The BFSI sector continued its upward trend in advertising during 2024, with ad volumes and impressions growing steadily across TV, Radio, Print, and Digital platforms, as per TAM AdEx – 2024 Cross Media Advertising Recap – BFSI Sector.
On television, ad volumes grew by 7% over 2023, with LIC of India emerging as the top advertiser, accounting for 12% of the sector’s ad volumes. Muthoot Finance’s Loan Against Gold was the leading brand on TV with a 10% share, while News channels dominated BFSI advertising with a 68% genre share. Life Insurance and Mortgage Loans continued to hold the top two category spots.
Despite a strong start in Q1, TV ad volumes for BFSI dipped by 42%, 35%, and 35% in the remaining quarters of 2024.
In print, the sector recorded a 16% rise in ad space compared to 2023. The South Zone led with 33% share, with Bangalore as the top city. LIC remained the top print advertiser (9%), and Life Insurance retained its leading category status (10%). Three of the top 10 brands in print belonged to LIC, including LIC Jeevan Utsav and LIC Index Plus.
Radio advertising saw the highest volume jump, growing 22% over 2023, with LIC of India again leading the chart with 27% share. On the radio brand front, LIC Housing Finance was the most advertised brand (12%), followed by LIC Jeevan Utsav (7%). Morning and evening time bands accounted for 89% of the total BFSI radio ads. Maharashtra topped the state list with 18% Share.
Digital saw ad impressions grow 29% over 2022, though Q2, Q3, and Q4 witnessed de-growth compared to Q1. National Payments Corporation of India (NPCI) led as the top digital advertiser (6%) and ‘UPI Chalega’ was the most visible digital brand with 27% impression share. The sector leaned heavily on programmatic advertising, which captured 78% of digital transactions.
