LIC top advertiser on radio during Jan-Sept 2024: TAM Adex

New Delhi: The Life Insurance Corporation of India (LIC) emerged as the leading advertiser on radio in Q2 of FY 2024, followed by Maruti Suzuki, one of India’s largest automakers.

According to the latest report on radio advertising by TAM Adex, which analysed ad volumes on radio from January to September 2024, the service and auto sectors retained their top two positions in the list of sectors advertising on radio. 

With a combined share of 30% and 10% respectively, these two sectors were ahead of the banking and finance sector, which secured 9% of the ad volumes.

LIC continued its dominance among more than 8,000 advertisers for the second consecutive year. Among leading brands, LIC Housing Finance emerged as the top contender, climbing up from the third position during the same period last year.

In terms of growth, car advertisements showcased a massive 60% increase in ad secondages. The jewellery sector also experienced significant growth, with brick-and-mortar jewellers recording a 50% increase in ad volumes on radio. Overall, radio advertising grew by 2% in ad volumes per station compared to the same period in 2023.

New entrants also emerged among the top 10 categories advertising on radio. For the first time, coaching centres and schools entered the list of top 10 categories, climbing up from 14th and 15th positions last year. This year, the top 10 categories accounted for 51% of total ad volumes on radio until September.

The report, which monitors more than 110 radio stations, highlighted that Gujarat and Maharashtra led in ad volumes on radio, with shares of 18% and 16% respectively. Among cities, Jaipur topped the list with an 8% share of ad volumes.

Aligned with the shorter attention spans of consumers, 68% of all ads on radio during the January-September 2024 period lasted for 20-40 seconds, making this the most preferred duration. Advertisements under 20 seconds also garnered a significant 27% share. Together, these two durations accounted for 95% of the entire ad volume on radio.