Radio advertising grows 2% YoY in Jan-Sep 2024: TAM

Radio saw a steady increase in advertising in the first three quarters of 2024. The top 10 sectors collectively accounted for 89% of ad volumes in Jan-Sep 2024. These include Services (30%), Auto (10%), Banking/Finance/Investment (9%), Retail (9%), Food & Beverages (8%), Education (8%), Personal Accessories (7%), Building, Industrial & Land Material/Equipments (3%), Personal Healthcare (3%) and Durables (2%). While Services & Auto retained their positions in the list of top categories, BFSI ascended to the 3rd position from 5th in Jan-Sep 2023.

The top 10 categories accounted for 51% share of ad volumes on . These included Properties/Real Estate (16%), Hospital/Clinics (7%), Cars (7%), Retail Outlets - Jewellers (6%), Retail Outlets - Electronics/Durables (3%), Retail Outlets - Clothing/Textiles/Fashion (3%), Life Insurance (3%), Multiple Courses (3%), Schools (1%) and Coaching/Competitive Exam Centre (1%). Like the sectors, the top 2 categories retained their position in Jan-Sep 2024 over Jan-Sep 2023.

The top 10 advertisers covered a 12% share of ad volumes on radio advertising during Jan-Sep 2024. While LIC of India retained its top position, Gujarat Cooperative Milk Marketing Federation, Hyundai Motor India and Renault India were the new entrants in the list over Jan-Sep 2023. Other advertisers in the list include Maruti Suzuki India, SBS Biotech, LIC Housing Finance, Tata Motors, Reliance Retail and Vishnu Packaging. Over 5000 exclusive advertisers were present on radio in Jan-Sep 2024 over Jan-Sep 2023.

The top 10 brands on the radio in Jan-Sep 2024 included LIC Housing Finance, Vimal Pan Masala, LIC Jeevan Utsav, Maruti Suzuki Arena, Manappuram Loan Against Gold, Acko General Auto Insurance, Malabar Gold And Diamonds, Alishan, LIC and Nissan Magnite. Among the top 10 brands, 3 belonged to the LIC of India and 5 were new entrants over the same period in 2023.

Cars as a category saw the highest increase in ad secondages with 60% growth followed by Retail Outlets - Jewellers with a 50% growth in Jan-Sep 2024 over Jan-Sep 2023.

Gujarat and Maharashtra retained their 1st and 2nd positions with 18% and 16% share of ad volumes respective in Jan-Sep 2024 over Jan-Sep 2023. The top cities included Jaipur, New Delhi, Nagpur, Surat, Ahmedabad, Hyderabad, Indore, Pune, Bangalore and Vadodara. These cities accounted for 62% of ad volumes with Jaipur retaining its top position with an 8% share of ad volumes in Jan-Sep 2024 over Jan-Sep 2023.

Evening was the most preferred time band on Radio followed by Morning and Afternoon. Evening & Morning time bands together added 69% share of ad volumes. Ads with 20-40 seconds were the most preferred for advertising on Radio during Jan-Sep 2023 and Jan-Sep 2024. Together, 20-40 seconds and <20 seconds ads added 95% of ad volumes on radiation in Jan-Sep 2024.