ARN's iHeart has partnered with Magellan AI to launch an initiative to celebrate the brands and agencies investing most significantly in the Australian podcast industry.

The initiative includes the Australian Agency of the Quarter award, presented to the agency with the highest podcast ad spend each quarter. The inaugural Australian Agency of the Quarter award for Q2 2024 has been awarded to OMD Australia.

The Top 15 Podcast Advertisers list for Q2 2024 has also been released, featuring brands from various sectors including technology, finance, retail, and healthcare. Leading the list with the highest investment is BetterHelp, followed by McDonald's and Airbnb.

"This award highlights the immense impact that brands and agencies have through their investment and proven ROI into the podcast industry. By recognising the leaders who are driving significant investment, we aim to inspire the continued growth within the podcasting space," said ARN's Head of Digital Audio, Corey Layton.

Magellan AI's reporting uses artificial intelligence to analyse thousands of episodes from over 400 of Australia's most popular podcasts, identifying the top brands in the medium. The findings reveal a continued increase in investment across most podcast genres, with notable growth in the Business and Comedy categories year-on-year.

Magellan AI's sampling method 'listens' to 400+ of the most popular podcasts in Australia and ingests the audio to identify ad placements, content, and their narrator within each episode. The proprietary model then estimates advertisers' spend based on proven inputs such as the number of ads detected, variation in ad load, types of ads, and multiple episode samples. Magellan AI's international sampling allows for comparison across different regions to ensure the ads and spend are specific to Australia.

"Advertising in podcasts offers a unique platform to engage deeply with audiences in a way that's personal and impactful. Messaging woven seamlessly and authentically into content listeners resonate with, provides brands the opportunity to connect and leave a lasting impression. Podcasts are an evolving space for creativity and a strategic channel to reach niche and engaged communities," said Chief Investment Officer OMD, Marelle Salib.