The Indian radio advertising industry witnessed significant growth in 2024, with ad volumes per station increasing by 80% compared to 2020, according to TAM AdEx data. The fourth quarter of 2024 saw an 18% rise in ad volumes compared to the second quarter, indicating consistent growth throughout the year. However, the overall increase from 2023 to 2024 remained modest at just 2%.
The services sector dominated radio advertising, accounting for 30% of total ad volumes in 2024. Properties and real estate emerged as the top category, contributing 15% to the total share. The automobile sector, particularly cars, saw the highest spike in ad secondages, with a 57% increase compared to 2023, followed by retail jewellers, which grew by 42%.
Geographically, Gujarat led the country with an 18% share of total radio ad volumes, followed by Maharashtra at 16%. Among cities, Jaipur recorded the highest ad volume, surpassing New Delhi. Advertisers showed a clear preference for evening time slots, which, along with morning slots, accounted for 69% of total ad volumes. The most common ad length remained between 20-40 seconds, though shorter ads under 20 seconds gained traction in 2024.
In terms of advertisers, Maruti Suzuki India topped the list, followed by LIC of India. Three new entrants made it to the top 10 advertisers in 2024 compared to the previous year. Jeena Sikho Lifecare emerged as the leading exclusive advertiser, while LIC Housing Finance moved up to the first position from third place in 2023.
Despite radio’s overall positive trajectory, the industry remained concentrated, with the top five states contributing more than 60% of total ad volumes and the top 10 cities accounting for 62%. Additionally, while more than 400 categories were advertised on radio in 2024, the top 10 categories alone held 51% of the market share.