Ad volumes on radio increased by 3% in H1 2024 YoY
According to the TAM AdEx report, evening was the most preferred time band on the radio for advertising followed by morning and afternoon time bands.
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Advertising volumes in the first half of 2024 (i.e. January to June) have increased by 3% on radio, as compared to the first half of 2023.
Compared to the same period in 2022, there was an increase in ad volumes of 9% this year, according to the latest report by TAM AdEx.
The report also highlighted that the advertising volumes in the first half of 2023 increased by 6% over the first half of 2022. TAM AdEx monitors more than 110 radio stations.
In terms of the sectors that are advertising on the medium, services topped the list with a 31% share of ad volumes in the first half of the year. Meanwhile, auto had a share of 10%, followed by BFSI, retail, food and beverages, and education with an 8% share each, among the rest.
The report also noted that in terms of categories, properties and real estate had a 16% share of the total ad volume in the given period, whereas hospitals/clinics and cars had a 7% share, followed by retail outlets/jewellers with 6%.
Among the top advertisers who advertised on the radio medium in the first half of 2024, LIC topped the list, followed by Maruti Suzuki, LIC Housing Finance, Reliance Retail, Amul, SBS Biotech, Tata Motors, Alishan, Renault India and Hyundai Motor India.
Six out of ten were new entrants in the top 10 advertisers’ list on radio.
The report further shared that cars among categories saw the highest increase in ad secondages with a growth of 57% followed by retail outlets-jewellers with 29% growth during the first half of 2024 compared to the same period in 2023.
Also, evening was the most preferred time-band for advertising on the radio followed by morning and afternoon time-bands. Meanwhile, evening and morning time bands together added a 69% share of ad volumes.
Ad commercials with 20-40 seconds were the most preferred for advertising on the radio during both periods. 20-40 seconds ad and <20 seconds ad collectively added 94% share of ad volumes on the radio in the first half of 2024.
In terms of states, Gujarat and Maharashtra held 20% and 19% shares of ad volumes respectively during the first half of 2024. Meanwhile, Jaipur was the leading city among the 18 cities on radio followed by Nagpur in the first half of 2024.
