News channels dominate as top choice for BFSI advertisers on TV in H1 2024: TAM

New Delhi: According to the TAM AdEx report on the BFSI sector for the first half of 2024, the news channel genre was the top choice for BFSI advertisers on TV from January to June 2024.

As per the report, the news genre occupied 67% of ad volume share, followed by movies with  15% and GEC with 12% share. 

The top 3 TV channel genres accounted for 94% of ad volume share for the BFSI sector during H1’24.

Additionally, ad volumes for the BFSI sector on television increased by 19% during this period compared to January-June 2022, and by 14% compared to January-June 2023. 

The categories of life insurance and mortgage loans maintained their first and second positions in TV advertising during Jan-Jun 2024, as they did in the same period in 2023.

In print, ad volumes surged by 27% during January-June 2024 compared to the same period in 2022, with a remarkable 37% increase compared to January-June 2023. 

The Life Insurance category retained its top spot in print advertising, while Bonds and Credit Cards were new entrants to the top 10 print advertisers' list for H1 2024. 

Geographically, the South Zone led BFSI advertising in print, securing a 34% share of total ads.

Radio also witnessed substantial activity, with ad volumes in the BFSI sector increasing by 30% from January to June 2024 compared to 2022, although there was a 2% decline when compared to the same period in 2023. 

The Life Insurance category dominated radio ads, contributing 31% of total BFSI ad volumes, with Maharashtra leading state-wise with a 20% share. Advertisers preferred the evening and morning time bands for BFSI ads on the radio.

On digital platforms, ad impressions soared by 74% in H1 2024 compared to H1 2022, and by 17% compared to H1 2023. 

The Securities/Sharebroking organisation category claimed the top spot with a 20% share of ad impressions, rising from its 4th position in 2023. 

Bajaj Finserv led the top 10 advertisers, who collectively contributed 50% of total ad impressions. 

Programmatic advertising dominated the digital landscape for the BFSI sector, covering 80% of the total ad transactions from January to June 2024.