The impending start to second quarter is expected to bring a bump in ad spending according to several forecasters. MediaRadar has been analyzing which brands are pointed to spend the most during the coming months, and the list includes some good news for podcasters. Some of the medium’s biggest brands are already ramping up their marketing this year.
The online mental health service provider BetterHelp spent 61% of its advertising spending on podcasting during January and February according to MediaRadar estimates. The more than $2.8 million it spent on podcasts was more than double what it spent on cable television and more than five-times what it spent in print. MediaRadar says during the second quarter of last year BetterHelp spent $5.6 million in advertising, which it concludes means the brand could bump up its spending in the coming quarter.
The DTC footwear brand Allbirds spent just two percent of its January-February market budget, or $18,024, on podcasts. But MediaRadar says it too could be one to watch in second quarter. “Allbirds is looking to expand their small footprint of brick-and-mortar stores located in the San Francisco Bay Area, and with the announcement of their new vegan leather footwear line, their ad spend will likely continue to increase,” it said.
The growing sports betting category also puts Fan Duel on Media Radar’s list. It spent an estimated $115,755 on podcast ads during January and February. But that budget could grow as Fan Duel commits more to marketing. “MediaRadar says Fan Duel’s ad spend for January and February surpassed their total spending in Q1 of 2020 by 171%.
MediaRadar also flags IBM’s Cloud marketing efforts as a client worth watching. It says the tech company spent $190,719 on podcast ads in the first two months of the year.
In a very different category, cereal maker General Mills spent $133,708 on podcast ads in January and February. “MediaRadar predicts they will increase ad spend during Q2 in an attempt to entice consumers to continue to have breakfast at home even as we come out of the pandemic,” the report says.
Download the full report HERE.