November 2020: Top spenders, movers & shakers
Each month, in addition to this blog post, we share deeper insights about the trends, changes, and notable copy in the monthly market update webinar. Join us on December 22 to learn more about November's spenders, movers, and shakers. Register now >>
Click here to see the full list of top 15 podcast advertising spenders in November
Below we’ve detailed the podcast advertisers with the largest month over month increase between October and November 2020.
Top movers and shakers in November
Spotlight: Bank of America
Like many other financial services advertisers, Bank of America has been a consistent advertiser on podcasts for a while now. They have promoted credit cards, investing platforms, and even a couple of their own podcasts over the years; which makes it surprising that they topped our movers and shakers list this month. But they are following a trend we have noticed across the financial services industry at large, which has grown 75% in spend since January 2020.
In November, Bank of America began to heavily promote its new Cash Rewards Credit Card. Promoting 3% cash back on online purchases, Bank of America is positioning it as the perfect credit card card to maximize savings during the holiday season. This is a new strategy for Bank of America, who has not run any holiday centered ads on podcasts in the past. We want to know: how is your strategy changing?
Bank of America, a brand awareness advertiser, spent a total of $1.87mm on podcasts in November. Here you can listen to some example ads for each of the following podcasts: Stuff You Missed In History Class and The Intelligence.
Spotlight: Carvana
Carvana is an auto retailer that is redefining the car buying process through online retail and car “vending machines”. Despite not spending much previously, they have made a big splash in November by running ads on over 200 shows. Carvana’s activity on podcasts is most likely a result of its noticeable growth over the past year brought on by the coronavirus pandemic. With less people willing to go to a dealership to purchase their car, Carvana has been perfectly situated to provide an alternative.
Carvana, a brand awareness advertiser, spent a total of $111k on podcasts in November. Here you can listen to some example ads for each of the following podcasts: The Weeds and The Daily Show with Trevor Noah: Ears Edition.
Spotlight: Total Wine & More
With the holiday season approaching, there are some advertisers who have ramped up their spending in response. Total Wine & More is one of these advertisers, which is why we are seeing them on our movers and shakers list this month. Looking back on their activity in November 2018 and 2019, Total Wine & More increased its spending to $97k and $464k, respectively, from $0 in the month prior. Despite spending in other parts of the year as well, Total Wine & More tends to spend the most in the months of November and December and 2020 appears to be no different. In a larger scope, retailers were one of the industries with the largest increase in investment this year.
Total Wine & More, a brand awareness advertiser, spent $465k on podcasts in November. Here you can listen to some example ads for each of the following podcasts: Fresh Air and Crime Junkie.
Methodology
Magellan AI analyzes podcast advertising data from the top 3,000 podcasts in the U.S., as ranked by Apple Podcasts. For parts of this analysis, we relied on Magellan AI’s proprietary model to estimate advertising spend. Our model incorporates a number of factors, including:
- The number of ads and variation in ad load detected for a given episode
- Number of downloads for each episode
- CPM, as reported on select media kits and estimated based on popularity
From time to time we adjust our model based on new inputs and user input.
Each month Magellan AI uses our proprietary methodology to generate estimated spend numbers for every advertiser in our database. Want to learn more about how much advertisers are spending? Request your custom demo.
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