Ad volumes on radio grew by 8% in 2023: TAM AdEx
According to a recent TAM report, more than 10K advertisers were present on the radio medium in 2023
TAM AdEx, a division of TAM Media Research, recently launched a report titled ‘Tune-In for Advertising in Y 2023 on Radio’.
The report, which monitored more than 110 radio stations, talks about advertising trends, top spenders (Categories, Advertisers and Brands), and City & State contribution on radio ads.
On radio, the indexed value of ad volumes per station was 130 in 2023. The ad volumes increased by 20 percent and 30 percent during 2022 and 2023 when compared to 2019. Additionally, there was 8 percent surge in ad volumes on radio in 2023, compared to 2022.
In 2023, the top sectors to advertise on radio were Services and Retail with a share of 31 percent and 10 percent respectively. These two were also the top two rankers in 2022.
Auto (10 percent), Food and Beverage (8 percent), Banking/Finance/Investment (8 percent), Personal Accessories (6 percent) and Education (8 percent) were next in line. Together, the top 10 sectors had a collective share of 89 percent in 2023.
Seaking of categories, the top 7 categories namely Real Estate, Hospitals, Retail Outlets- Jewellery, Cars, Retail Outlets-Clothing/Textiles/Fashion, Retail Outlets-Electronics/Durables and Life Insurance retained their respective positions during 2023, as compared to 2022.
In 2023, more than 425 categories advertised on radio and the top 10 categories occupied 48 percent advertising share on the medium.
LIC of India was the leading advertiser in 2023 followed by Kedia Homes, Maruti Suzuki, Vishnu Packaging, Reliance Retail. Also, Kedia Homes was a new entrant in 2023. More than 10K advertisers were present on the radio medium in the same year.
In terms of specific brands that advertised on radio in 2023, Kedia Sezasthan entered the top brands list and secured first position. Patanjali Wellness, Reliance Digital, Nissan Magnite and Income Walls.Com were new entrants during 2023.
Properties/Real Estates among the categories saw the highest increase in ad secondages with growth of 32 percent followed by Hospital/Clinics with 40 percent growth during 2023 compared to 2022. Additionally, Pan Masala, Corporate- Pharma/Healthcare and Cellular Phones- Smart Phones lead among top 10 categories in terms of highest growth percentage when compared to previous year.
Geographically, Gujarat was the leading State with 20 percent share of ad volumes on radio closely followed by Maharashtra with 18 percent share. The top 5 States accounted for more than 60 percent of total ad volumes.
Jaipur topped among the 18 cities on radio followed by Nagpur in second position. The top 10 cities accounted for 69 percent of total ad volumes on radio.
Evening was the most preferred time-band on radio followed by morning time-band for advertising on radio. Evening and morning time bands together added 69 percent share of ad volumes.
