Television ad volumes for the BFSI sector dipped by 1% in January-August 2021
Television advertising volumes for the banking, financial services and insurances (BFSI) sector saw a marginal drop of 1% during January-August 2021 compared to the same period last year, according to latest data released by AdEx India, a division of TAM Media Research. On the other hand, the print medium witnessed a rise of 60% in ad space. The report also added that BFSI saw consistent double-digit advertising growth on television from January 2021 to March 202, followed by a single-digit growth in April-July 2021. However, television ad volumes for the BFSI sector grew by 1.7 times (14%) in August, compared to July.
As per the report, life insurance accounted for the highest ad volumes of any BFSI category at 27%. Besides, the top five categories accounted for more than 65% of the total ad volumes of the sector. Among the top ten advertisers on television, Life Insurance Corporation (LIC) of India topped the chart with a 15% share. Upstox was the top exclusive brand followed by Shriram Life Assured Income Plan during January-August 2021 period. In addition, over 240 exclusive brands were present on television in the same period.
The top three channel genres accounted for 91% of ad volumes share for the BFSI sector. News genre emerged as the most preferred one for BFSI brands with 69% share of ad volumes. Both movie channels and general entertainment channels (GEC) secured the second position with 11% share of ad volumes. On the other hand, the news bulletin was the most preferred program genre with 43% share of ad volumes. Furthermore, feature films and business program genres contributed to 13% and 11% share of ad volumes, respectively. The prime time was the most preferred time-band, followed by afternoon and morning as the three time-bands combined for more than 70% of ad volumes for the BFSI sector. 20-40 seconder ads were most preferred by the BFSI advertisers.
With a whopping 60% year-on-year growth in ad space, BFSI saw maximum advertising in print during February 2021. Of all the categories, audited and unaudited financial had the highest BFSI ad space share at 31%. The top five categories added more than 75% of sector ad space during January-August 2021. While the top 10 advertisers accounted for more than 30% share of ad space, LIC of India was the top advertiser in the sector with a 19% share of ad space.
According to the report, English language had the highest share of ad space (58%) in print. The top five publication languages together added 87% share of ad space from the BFSI sector. South Zone topped for BFSI sector advertising with 33% share during January-August 2021, closely followed by West Zone and North Zone, both accounting for 27%.
The BFSI advertising volumes for radio registered 5% growth during January-August 2021, as compared to the same period of last year. In this period, the month of March saw the highest month-on-month spike, that is 26%. However, the sector saw consistent advertising growth on Radio in these nine months. The top 10 Advertisers added 83% share of ad volumes on radio, with LIC of India topping the chart. The top four states and union territories -Maharashtra, Gujarat, Tamil Nadu, and Delhi occupied over 50% of the ad pie.
Meanwhile, ad insertions on digital grew by 30% during January-August 2021, compared to the same period a year ago. Among all the categories, the life insurance category led the pack with a 37% share of ad insertions. The top 10 categories added 93% share of sector ad insertions, while ICICI Prudential Life Insurance topped the chart of top 10 advertisers with 21% share. As for digital, ad network transaction method captured 47% share of BFSI ad insertions, followed by programmatic with 38% share.