Do not Underestimate Radio, Advertisers in India are still Loving it, Ad Volume Increased by 2% in 2024

This is Rafia Rahim, who is the first woman radio jockey of Budgam, Jammu & Kashmir

New Delhi : Life Insurance Corporation of India (LIC) remained the top advertiser in terms of radio advertising in India in 2024. Vimal Pan Masala is at number two. According to the latest report by AdEx India, radio advertising in India recorded a growth of 2% in ad volume during January-September 2024 as compared to the same period last year.

Three of the top 10 brands present in 2024 were from LIC of India. New entrants in the top 10 brand list include LIC Jeevan Utsav, Maruti Suzuki Arena, Hyundai Motor India, Renault India, Manappuram Loan Against Gold, Acko General Auto Insurance, Malabar Gold & Diamonds and Gujarat Cooperative Milk Marketing Federation (GCMMF).

Geographically, Gujarat led the states with 18% of ad volume, followed by Maharashtra at 16%. Jaipur maintained its position as the leading city by contributing 8% to the ad volume, while the top five states collectively accounted for 62% of the ad volume. Evening (5:00 PM to 9:59 PM) emerged as the most preferred time slot, grabbing 38% of the ad volume, followed by morning and afternoon slots. Ads with a duration of 20 to 40 seconds were the most preferred, accounting for 68% of the total ad volume. Exclusive brands advertising on radio also witnessed a 10% increase, from 10,000 to 11,000.

According to AdEx India, the report, created in collaboration with RCS India, analysed data from over 120 radio stations across the country. The analysis takes a deep look at the key sectors, categories, advertisers and time bands that shaped radio advertising trends in this time frame. The services sector remained the largest contributor to ad volume, accounting for 30% of the total. The auto sector ranked second with a 10% share, while retail and BFSI (banking, financial services and insurance) accounted for nine per cent each. BFSI improved from fifth place last year to third place during this period.

2024. 12/22 JST11:08
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Schools and coaching centres emerged as new entrants in the top 10 categories for the first time. Jewellers and electronics as well as retail stores for clothing and fashion played a significant role along with life insurance and automobile general insurance, the latter of which saw the highest growth across categories, growing 3.6 times. Collectively, the top 10 categories accounted for 51% of the total ad volume.

Further, across categories, property/real estate led with a 16% share, followed by hospitals/clinics and cars at seven per cent each. Retail stores-jewellery secured the third position with a six per cent share. Cars showed a 60% growth in ad volume, while retail stores-jewellery grew by 50%. The automobile general insurance category recorded the highest growth of 260% across all categories. Over 5,000 unique advertisers were active during January-September 2024, slightly higher than last year.