Ad spends of Brands of Bharat up by 106% in 2023 over 2019: e4m-TAM report

At the fourth edition of the e4m Pride of India Brands in Chennai on Wednesday, TAM Media Research CEO LV Krishnan unveiled an exclusive report on ‘Advertisement Spending and The Future of Brands of Tamil Nadu’, offering valuable insights into market trends in the south, consumer behaviour, and industry forecasts. During his presentation, Krishnan highlighted figures from the report and spoke about the evolving landscape of advertisement spending in the southern markets.

The e4m-TAM report stated that the ad spends of Brands of Bharat increased by 106% in 2023 over 2019 & by 75% in 2023 over 2022. The report further added that Brands of Bharat had almost similar growth on TV and Radio while ‘Digital’ ranked second in terms of Ad Spends growth.

“In the past two years, the southern markets saw stable ad volumes on TV and reported 30% growth in TV ad volumes in 2023 as compared to 2019”, the e4m-TAM report said. The report further added the Print ad volumes for the southern markets achieved a 3% growth in ad volumes in 2023, surpassing the All-India figures by 1%. Talking about the radio ad volumes, the report stated that the ad volumes on both -- All India and Southern radio stations, experienced double-digit growth in 2023.

“In the past two years, 130+ categories have consistently advertised more on TV over Digital platforms. Categories from F&B, Personal Care & Hygiene, Personal Healthcare, Household Products and Hair Care sector preferred TV over Digital”, the report added. Krishnan also highlighted that the SMB/MSME group of advertisers contributed to an average of 61% to the overall media Ad spends with the highest share in 2023.

In Tamil Nadu, the landscape of advertisement spending has undergone a significant transformation in recent years, reflecting the dynamic nature of the market and consumer preferences. Brands are increasingly recognizing the importance of strategic advertising to stay competitive and enhance brand visibility. The advent of digital platforms and social media has further fuelled this shift, providing businesses with new avenues to connect with their target audience.

The report stated that the robust revenue growth of SMEs at the regional level is leading to scaling national markets. Moreover, prioritizing marketing goals is leading to Media Mix optimization between TV & Digital. “Both TV & Digital are helping SME brands acquire customers as well as build brand’s equity while brand education & experience will continue transcending digital & physical presence together”, the report added.