Four years after the pandemic, radio advertising has regained its pre-pandemic strength, according to Madison reports.
Radio AdEx in 2023 reached Rs 2,272 crore, marking a 12 percent increase and bringing it back to pre-pandemic levels. However, radio’s overall share of the advertising pie stabilised at 2 percent, lower than the 4 percent it held in the late 2010s.
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While ad volume remained consistent across the first three quarters, the festive season in Q4 witnessed a surge, with advertising time rising 18 percent and value increasing 12 percent.
Real estate remained the biggest spender on radio advertising, holding a 16 percent share, followed by FMCG at 12 percent, auto at 11 percent and BFSI at 9 percent.
While travel and tourism and clothing and fashion experienced substantial growth, their starting base was considerably lower.
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