Maharashtra Elections 2024 Boost Out-of-Home Advertising with Record Spending

The 2024 Maharashtra Assembly Elections, which ended with a victory for the BJP-led Mahayuti alliance, brought a significant boost to the Out-of-Home (OOH) advertising industry. The election season, marked by rallies and extensive campaigning, saw a surge in visibility for brands and political entities alike, driving inventory usage and revenue growth in the OOH sector.

Jayesh Yagnik, CEO of MOM Outdoor Media, noted that election periods typically bring substantial growth to OOH advertising, with bookings increasing by 20-30%. This sentiment was echoed by Haresh Nayak of Connect Network, who observed a 30-40% rise in OOH spending compared to previous elections. "This time, political parties have been exceptionally active, dominating the medium," he said.

High Occupancy and Rising Ad Rates

According to Rohit Chopra, COO of Times OOH, the Maharashtra elections saw an 80-90% occupancy rate in the OOH market. Dipankar Sanyal of Platinum Communications estimated that Rs 40-50 crore was spent on election advertising.

Although political campaigns significantly boosted OOH advertising demand, the response to ad rate increases was mixed. Haresh Nayak pointed out that rates rose by about 10-15% due to the surge in political spending, while Jayesh Yagnik noted that prime media costs saw a premium, especially on key routes in major cities. However, Sanyal suggested that during election seasons, rates often remain steady as volume drives revenue rather than price hikes.

Chopra added that while established rate cards were generally adhered to, the high demand left little room for negotiation, indirectly boosting media owners’ profits.

Key Advertising Hotspots

During the campaign season, top OOH locations across Maharashtra saw a flurry of activity. In Mumbai, prime spots like private hoardings and the Mumbai Metro were heavily utilized. The BJP made notable use of the Metro, leveraging it as a vital advertising platform to connect with city residents.

Haresh Nayak highlighted significant expenditures on key highways and major city routes, including WE Highway, EE Highway, and prominent roads like Linking Road and SV Road. Digital OOH (DOOH) also saw considerable investments. While Tier-1 cities led in advertising spend, Tier-2 and Tier-3 cities showed notable activity as well.

Yagnik identified major advertising locations like the Bandra-Worli Sea Link, Eastern and Western Express Highways, and railway hubs such as CST, Dadar, and Andheri as top choices for political campaigns. He also noted the use of mobile vans, posters, and wall wraps in addition to traditional hoardings.

Brands Shy Away from Political Campaigns

Major brands largely avoided election-specific campaigns to steer clear of potential backlash. According to Chopra, many brands chose to conserve budgets for the upcoming wedding and New Year season, opting out of election-related spending.

Sanyal added that as election campaigns gain momentum, their high visibility often overshadows brand campaigns, especially in the final weeks before the vote. However, Jayesh Yagnik pointed out that some sectors, such as real estate, FMCG, automotive, and telecom, seized the opportunity to invest in OOH advertising during this high-visibility period.

Digital and TV Advertising Trends

Beyond outdoor advertising, digital platforms saw intense political engagement during the Maharashtra elections. Google reported over Rs 48 crore spent on ads in October and November, with BJP and INC leading the spending. BJP spent Rs 20.7 crore, while INC allocated Rs 8.1 crore during this period.

TAM data shared with exchange4media revealed that Congress led TV ad campaigns in October 2024 with a 58% share, while BJP was second with a 35% share in September 2023 and 19% in October 2024. Overall, TV ad insertions by political parties grew by 145% in October 2024 compared to September 2023.

However, print and radio advertising saw declines. In October 2024, print ad insertions dropped by 12%, and radio ads fell by 9% compared to September. In the print sector, BJP held the largest ad space share at 47%, followed by Shiv Sena and Maharashtra Navnirman Seva. On radio, BJP dominated with over 50% of political ads in October 2024, and over 80% in September 2023.

The Maharashtra Assembly Elections 2024 not only marked a political milestone but also underscored the power of OOH advertising during key events, reaffirming its impact on the advertising landscape.