Radio advertising volumes have been growing steadily since 2020, with an 80% surge by 2024, according to a TAM AdEx 2024 report.

Although the growth from 2023 to 2024 was a modest 2%, the overall trend highlights that radio has gradually gained traction, especially following the disruptions of previous years. 

In quarterly trends too, ad volumes on radio have been consistently growing over the period with average ad volumes in the fourth quarter of 2024 increasing by 18% as compared to the second quarter of the same year.

The growth was fueled by sectors such as services, automotive, retail, and BFSI. Services emerged as the leading contributor, accounting for nearly 30% of total ad spend, as per the report. 

Properties/real estate emerged as the leading category, accounting for 15% of total ad volumes on radio in 2024.
Cars among the categories saw highest increase in ad secondages with growth of 57% on the medium during the same period over 2023.

The top 10 advertisers together added 12% share of ad volumes with Maruti Suzuki India leading the list, followed by LIC of India.

Among the exclusive advertisers last year compared to 2023, Jeena Sikho Lifecare emerged as the top advertiser.

LIC Housing Finance topped the list of leading brands during the year, followed by Vimal Pan Masala.

Maruti Suzuki Arena, Malabar Gold And Diamonds, LIC Jeevan Utsav, Manappuram Loan Against Gold, and Acko General Auto Insurance were the new entrants during the period over 2023.

Gujarat led among states closely followed by Maharashtra with16% share, while Jaipur topped among cities followed by New Delhi at second position in terms of radio ad volumes in 2024.

Top five states accounted more than 60% of total ad volumes, even as top 10 cities accounted for 62% of total ad volumes on radio.

The report also indicated that advertisers on radio preferred the evening time band last year, with commercials of 20-40 seconds being the most preferred duration during the periods of 2023 and 2024.