Radio Ad Volumes See 2% Growth in 2024: Insights Unveiled
Radio ad volumes climbed 2% in 2024, led by innovative strategies and strong sectoral growth. Discover how brands and categories fueled this rise.
Deepanjali
The radio advertising landscape showed a 2% growth in ad volumes per station during January to September 2024, compared to the same period in 2023, according to TAM Media’s latest report. A remarkable 89% of the total ad volumes came from the Top 10 sectors, with Services and Auto leading the way at 30% and 10% shares, respectively. The BFSI sector climbed to the 3rd position, capturing 9% of the share, up from its 5th position in 2023.
The Top 10 categories together contributed 51% of the ad volumes, with Properties/Real Estate and Hospitals/Clinics maintaining their top spots. Interestingly, Schools and Coaching/Competitive Exam Centres entered the Top 10 list for the first time this year.
When it came to advertisers, the Top 10 brands accounted for 12% of ad volumes. LIC of India held onto its leading position, while GCMMF, Hyundai Motor India, and Renault India emerged as new entrants. LIC Housing Finance and Vimal Pan Masala claimed the top two brand positions. Notably, over 5,000 exclusive advertisers joined the fray in 2024.
Categories like Cars saw an impressive 60% growth in ad seconds, followed by Jewellery Retail Outlets with a 50% increase. Among the Top 10 categories, Automobile General Insurance recorded the highest percentage growth at 3.6x.
Geographically, Gujarat and Maharashtra retained their top ranks, contributing 18% and 16% of ad volumes, respectively, while Jaipur led among cities with an 8% share. The evening time-band emerged as the most preferred slot, accounting for a 69% share along with the morning band.
In terms of ad length, commercials running 20-40 seconds were the most favored, making up 95% of ad volumes. This consistent preference highlights advertisers’ strategy to optimize engagement within brief yet impactful slots.
Radio continues to show its resilience and adaptability, with significant contributions from new advertisers and evolving categories driving its steady growth in 2024.
