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Radio ad volumes see 80% growth per station in 2024 compared to 2020: Report

As per TAM AdEx's report on radio advertising, the Cars category experienced the highest increase in ad volumes, with a 57% growth in ad secondages in 2024 compared to 2023.

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Radio ad volumes

TAM AdEx has released insights into radio advertising in 2024. The report sheds light on the evolving landscape of radio advertising, highlighting key trends, sectoral shifts, and performance benchmarks for the year. Compared to previous years, 2024 saw remarkable growth in radio advertising, signalling a bright future for the medium.

One of the insights from the report is the 80% growth in average ad volumes per station in 2024 compared to 2020, emphasising radio’s strong upward trajectory. The trend continued in the latter half of the year, with the fourth quarter seeing an 18% increase in ad volumes over the second quarter.

However, despite this growth, radio advertising experienced a modest 2% overall growth in 2024 compared to the previous year.

In terms of sector contributions, the Services sector led the charge, capturing 30% of the total ad volumes on radio in 2024. Properties/Real Estate emerged as a dominant category, commanding a 15% share of the radio advertising pie, showing a strong demand for space in this sector.

The report highlights Maruti Suzuki India as the top spender in radio advertising, with the top 10 advertisers collectively accounting for 12% of the ad volumes. The Cars category experienced the highest increase in ad volumes, with a 57% growth in ad secondages in 2024 compared to 2023. This surge suggests a targeted push by automotive brands to engage with their audiences through radio, capitalising on the medium’s reach.

In terms of emerging advertisers, Jeena Sikho Lifecare made an entry, becoming the top new advertiser of the year.

Geographically, Gujarat emerged as the leading state for radio ad volumes, followed closely by Jaipur, which topped the list of cities. 

Additionally, advertisers on radio in 2024 favoured the Evening Time-Band for their campaigns, leveraging the increased listener engagement during this period. In terms of commercial length, ads ranging between 20-40 seconds were the most popular choice for advertisers in both 2023 and 2024, indicating that shorter, concise ads continue to dominate radio's advertising space.

You can access the report here:

radio advertising TAM TAM Media Research TAM India Radio Advertising