The average ad volume per station witnessed a remarkable 80% growth in 2024 compared to 2020, highlighting the radio’s strong growth, according to TAM AdEx’s recent report.
Additionally, there was a 2% surge in ad volumes on radio when comparing 2024 to 2023.
Average ad volumes in the fourth quarter of 2024 increased by 18% as compared to the second quarter of the same year.
As per the report, radio advertising experienced a modest 2% growth in 2024 compared to 2023. Services was the leading sector with 30% share of ad volumes on radio during 2024. During 2024, all the top 10 sectors were also present during 2023. Together, the top 10 Sectors had a collective share of 89% in 2024.
Properties/Real Estate emerged as the leading category, accounting for 15% of total ad volumes on Radio in 2024. In 2024, more than 400 categories advertised on Radio. Also, the top 10 categories occupied 51% advertising share on Radio.
The top 10 advertisers together added 12% share of ad volumes with Maruti Suzuki India leading the list. Cars among the categories saw the highest increase in Ad secondages with growth of 57% on radio during 2024 over 2023, as per the report.
Additionally, Mortgage Loans, Corporate/Brand Image and Tooth Pastes lead among top 10 categories in terms of highest growth % (i.e. more than two times) in 2024 over 2023.
Maruti Suzuki India was the leading advertiser in 2024 followed by LIC of India. There were three new entrants in the top 10 advertiser list during 2024 compared to 2023. In 2024, more than 10,000 advertisers were present on radio medium.
As per the report, In 2024, more than 5.7 thousand advertisers featured on radio, a change from the preceding year, 2023, when they were not present. Among the exclusive advertisers in 2024 compared to 2023, Jeena Sikho Lifecare emerged as the top advertiser. In 2024, LIC Housing Finance ascended to first position compared to its third position in 2023.
Maruti Suzuki Arena, Malabar Gold And Diamonds, LIC Jeevan Utsav, Manappuram Loan Against Gold and Acko General Auto Insurance were new entrants during 2024 over Y 2023.
Gujarat led among states, while Jaipur topped among cities in terms of radio ad volumes in 2024. Advertisers on radio preferred Evening Time-Band during 2024. Ad Commercials with 20-40 seconds were most preferred for advertising during 2023 and 2024, the report stated.
