Ad volumes in the first half of 2024 on radio increased by 3% as compared to the same duration in 2023, according to TAM AdEx’s ‘Half Yearly Report for Radio Advertising’.
When compared to the duration from January to June 2022, there was an increase in ad volumes of 9% in the first half of 2024. Also, ad volumes in the first half of 2023 increased by 6% over the same period in 2022.
As per the report, the services sector solely had a 31% share of ad volumes and was the leading sector in the first half of 2024. Additionally, the auto sector rose to the second position in H1 2024 over H1 2023 with a 10% share of ad volumes.
The top three sectors together accounted nearly for half of the share of ad volumes. Meanwhile, all the top 10 sectors from the first half of 2023 remained in the top 10 list in the first half of 2024 with minor rank shifts.
There were more than 355 categories present from January to June 2024 on the radio. The Properties/Real Estate retained their top position with Hospital/Clinics in second, with 16% and 7% shares of ad volumes respectively in the first half of 2024 over the first half of 2023. Both categories belonged to the services sector.
Schools were the only new category in the top 10 from January to June 2024 over January to June 2023.
LIC of India secured the top position in the top 10 advertisers list for the first half of 2024. Meanwhile, Maruti Suzuki India retained its second position from January to June 2024 compared to the same period in 2023.
Six out of 10 were the new entrants in the top 10 advertisers’ list on radio.
LIC Housing Finance was the leading brand on radio medium followed by Alishan in the first half of 2024.
LIC Jeevan Utsav, Acko General Auto Insurance, and Vision 204 were the exclusive brands present in the top 10 list of brands from January to June 2024 over the same period last year. Three out of the top 10 brands were from the Banking/Finance/Investment sector and the other two were from the auto sector from January to June 2024.
The report highlighted that in terms of growth percentage, the Computer Printers category witnessed the highest growth percentage among the top 10 which is 8.3 times, in the first half of 2024.
Cars among categories saw the highest increase in ad secondages with a growth of 57% followed by Retail Outlets-Jewellers with 29% growth from January to June 2024 compared to the same period in 2023.
Gujarat was the leading state with 20% share of ad volumes on the radio followed by Maharashtra in the second with a 19% share, during the first half of 2024. The top five states accounted for 66% of ad volumes.
Meanwhile, Jaipur was the leading city among the 18 cities on radio followed by Nagpur from January to June 2024. The top 10 cities accounted for 69% of total ad volumes on radio.
Further, the evening was the most preferred time band on the radio for advertising followed by morning and afternoon time bands. Evening and morning time bands together added 69%share of ad volumes.
The report said that ad commercials with 20 to 40 seconds were most preferred for advertising on radio during the first halves of both 2023 and 2024.
20-40-second ads and less than 20-second ads collectively added a 94% share of ad volumes on Radio from January to June 2024.
