Radio ad volumes grow by 18% in Q4-2024: TAM AdEx

Radio advertising in India witnessed a moderate 2% growth in 2024 compared to 2023. However, the average ad volumes in Q4-2024 increased by 18% as compared to Q2-2024. Moreover, compared with the performance in 2020, the per station ad volumes in 2024 showed a strong, 80% growth in 2024, indicating radio’s sustained expansion.

This was revealed in a report by TAM AdEx and RCS India, titled, ‘Tune-In for Advertising in Year 2024 on RADIO’. The report mentions that India’s radio ad volumes, compared to 2020, increased by 77% and 80% during 2023 and 2024, respectiely.

From sectoral perspective, services remained the top sector with a 30% share of radio ad volumes in 2024, followed by the automobile (11%), and retail and BFSI (9% each). The top 10 sectors collectively accounted for 89% of total ad volumes, retaining their 2023 positions even in 2024.

‘Properties/real estate’ emerged as the leading category, contributing 15% to total radio ad volumes in 2024. Over 400 categories advertised on radio, with the top 10 categories controlling nearly 51% share. As mentioned above, toothpastes posted the highest, 2.9 times (I.e. 190%) growth in ad-secondages in 2024 over 2023; the next three high growth categories were mortgage loans (170%), ‘corporate/brand image’ (110%), and cars (57%).

Maruti Suzuki India emerged as the top advertiser in 2024, followed by LIC of India and LIC Housing Finance. The top 10 advertisers together contributed to 12% of total ad volumes. The top 10 list featured three new entrants in 2024 compared to 2023, including GCMMF – Amul (#7), Hyundai Motor India (#8), and Malabar Group Of Companies (#9). More than 10,000 advertisers were found to be active on the medium of radio in 2024.

Among brands, LIC Housing Finance claimed No 1 position in 2024, advancing from third place in 2023. Other top advertising brands were Vimal Pan Masala (#2), Maruti Suzuki Arena (#3), and Malabar Gold and Diamonds (#4). Maruti Suzuki Arena, Malabar Gold And Diamonds, LIC Jeevan Utsav (#5), Manappuram Loan Against Gold, and Acko General Auto Insurance (#8) were the new entrants during CY-2024 over CY-2023.

Among the exclusive advertisers in 2024 compared to 2023, Jeena Sikho Lifecare emerged as the top advertiser, followed by Jio Platforms and Kiran Hospital. In 2024, more than 5,750 advertisers appeared on radio who were absent in 2023.

Among top states, Gujarat stood No 1 with an 18% share of ad volumes, followed by Maharashtra (16%) and Madhya Pradesh (10%). The top five states together accounted for more than 60% of total ad volumes. Among the top 18 cities, Jaipur stood No. 1, followed by New Delhi and Nagpur. The top 10 cities collectively contributed 62% to the total ad volumes in the country.

Among time bands, ‘evening’ was seen as the most preferred time band of radio advertisers in 2024, followed by the morning time band. Together, these two accounted for 69% of total ad volumes. While the most preferred ad-commercial duration was seen as between 20 and 40 seconds, the ads shorter than 20 seconds rose in frequency in 2024 compared to 2023.

With increasing ad volumes, stable sectoral contributions, and a broadening advertiser base, the radio advertising medium continues to stress its relevance even today, the report indicates.