ARN's iHeart and Magellan AI have unveiled the top 15 brands advertising on Australian podcasts in Q3 2024 - led by online therapy provider BetterHelp as the top spender.

The report said there had been a 92% year-on-year increase in spend in the True Crime podcast category, with comedy also on the rise.

The top 15 advertisers for Q3 2024 spanned a broad range of categories including technology, finance, retail, and healthcare. Brands such as Airbnb and Amazon followed BetterHelp on the list as having the highest investment with new world and legacy banks in Wise and Commbank rounding out the top five spenders.

"Through our AI powered Magellan AI partnership we continue to see an ever-growing list of brands engaging in Australia's fastest growing mass medium," said Corey Layton, ARN’s Head of Digital Audio. "This quarter is no exception as showcased by the breadth of brands and shows across the entire industry that are being utilised,"

In partnership with Magellan AI, iHeart has launched a new award to recognise and celebrate the brands and agencies investing most into the Australian podcast industry. For Q3 2024, the Australian Agency of the Quarter Award was presented to EssenceMediacom (Sydney), acknowledging their substantial advertising spend on podcasts during this quarter.

"Podcasts offer a high level of intimacy and engagement, making them a powerful lean-back environment for brands to connect with audiences," said Sarah James, EssenceMediacom Chief Investment Officer. "Thanks to iHeart for recognising EssenceMediacom as Podcast Agency of the Quarter, validating our commitment to crafting innovative audio strategies that deliver results for our clients in this growing medium,"

The Top Advertisers report uses artificial intelligence to analyse thousands of episodes from over 400 of Australia's most popular podcasts, determining the top brands advertising in the medium.