BFSI sector’s ad volumes in Print up 37% in H1’24 compared to H1’23: TAM AdEx

BFSI sector ad impressions on Digital medium witnessed a 74% increase during H1’24 compared to H1’22, while index ad volume growth of BFSI sector on Radio witnessed an increase of 30% during Jan-Jun’24 compared to Jan-Jun’22, as per TAM AdEx’s half yearly report for Banking Finance Investments (BFSI) advertising in the January-June 2024 period.

Television

BFSI sector’s ad volumes on television increased by 19% in during Jan-Jun’24 compared to Jan-Jun’22; the rise was 14% when compared to Jan-Jun’23.

The top 10 categories together accounted for 89% share of the ad volumes in TV during Jan-Jun’24. Life Insurance and Mortgage Loans retained their 1st and 2nd positions in Jan-Jun’24 over Jan-Jun’23. National Payments Corp of India and Tata AIG General Insurance Company were the new entrants in the top 10 list of Advertisers in Jan-Jun’24 compared to Jan-Jun’23.

During Jan-Jun’24, the top 10 advertisers accounted for 54% of total ad volumes. LIC of India and Muthoot Financial Enterprises retained their 1st and 2nd positions among Advertisers during H1’24 over H1’23.

The Top 10 Brands accounted for 39% share of the ad volumes in H1’24, with Muthoot Finance Loan Against Gold leading the list. National Payments Corp of India and Share.Market were exclusive brands during Jan-Jun’24 over Jan-Jun’23. Tata AIG Health Insurance was the new entrant in the Top 10 list of Brands during Jan-Jun’24.

News Channel Genre was most preferred by BFSI players in Jan-Jun’24. The Top 3 TV channel genres – News, Movies, GEC – accounted for 94% of the ad volumes share for the BFSI sector during H1’24.

News Bulletin was the most preferred program genre to promote brands in BFSI sector on Television. The Top 2 program genres, that is, News Bulletin and Feature Films together added 63% of the sector’s ad volumes.

Prime Time garnered the highest advertising on TV, followed by Afternoon and Morning time-bands. In terms of ad volumes, the prime time, afternoon, and morning time bands collectively accounted for 74% share.

Advertisers of the BFSI sector preferred 20-40 second ad size on TV during H1’24. 20-40 seconds and <20 seconds ads together covered 92% share.

Print

BFSI sector’s ad volumes on Print increased by 27% in during Jan-Jun’24 compared to Jan-Jun’22. The increase was 37% when compared to Jan-Jun’23.

Life Insurance retained its 1st position in H1’24 over H1’23. Bonds & Credit Cards were the new entrants in the Top 10 list of categories during H1’24 over H1’23. During H1’24, the top 10 categories together added 47% share of the ad space. LIC of India retained its 1st position among advertisers in Jan-Jun’24 with 12% share of the ad space. In Print Medium, the Top 10 advertisers of the BFSI Sector together added 31% share of the ad space in Jan-Jun’24.

Out of the Top 10 brands in H1’24, three of them belonged to LIC of India. The Top 10 brands accounted for 20% share of the total ad space in Print. Aside from LIC, NPCI-UPI, and SBI (State Bank of India), all other brands in the Top 10 list were exclusive to the January-June 2024 period when compared to January-June 2023.

English language has the highest share of ad space, that is, 55%. The Top 5 Publication languages together added 91% share of sector’s ad space. Business/ Finance/ Economy and General Interest each contributed a 50% share to BFSI advertising during Jan-June 2024.

South Zone was the leading territory with 34% share of BFSI advertising in Print in Jan-Jun’24. Chennai and New Delhi were the top cities in South Zone and North Zone, respectively.

Radio

Index ad volume growth of BFSI sector witnessed increase of 30% during Jan-Jun’24 compared to Jan-Jun’22. A 2% drop was seen during Jan-Jun’24 compared to Jan-Jun’23.

Life Insurance dominates the Category list with 31% of the total BFSI ad volumes. The Top 10 categories added 91% ad volume share of the sector on Radio. The Top 2 Advertisers retained their respective positions in Jan-Jun’24 compared to Jan-Jun’23. The Top 10 Advertisers added 78% share of ad volumes during H1’24, among which LIC of India was the leading advertiser.

The Top 10 Brands accounted for 54% share of the ad volumes in the Jan-Jun’24, in which LIC Housing Finance retained its 1st position. Six out of the Top 10 brands belonged to LIC of India during H1’24. LIC Jeevan Utsav, Acko General Auto Insurance and LIC Index Plus were exclusive brands present in the Top 10 list in H1’24 over H1’23.

The Top 3 states – Maharashtra, Gujarat, Tamil Nadu – occupied 46% share of the Ad Volumes for the BFSI sector. Maharashtra was the leading state for advertising on Radio with 20% share of the sector’s ad volumes in Jan-Jun’24.

Advertising for BFSI was preferred in the Evening time-band, closely followed by Morning time-band on Radio. 89% share of the BFSI Ad Volumes were in the Evening and Morning time-bands in Jan-Jun’24.

Digital

On Digital medium, BFSI sector ad impressions observed increase by 74% during the H1’24 compared to H1’22; the increase was 17% when compared to H1’23.

Securities/ Sharebroking Organization ascended to the 1st position in H1’24 with 20% share of ad impressions compared to 4th rank in H1’23. Also, the Top 10 categories together accounted for 96% share of ad impressions. ATM Services/ Debit Cards was the new entrant in the Top 10 list of categories during Jan-Jun’24. The Top 10 Advertisers collectively added 50% share of ad impressions during H1’24 with Bajaj Finserv leading the list.

The Top 10 Brands accounted for 45% share of the ad impressions in Jan-Jun’24. Bajaj Finserv secured the 1st position with 9% share of ad impressions in H1’24 over H1’23.

Programmatic was the leading transaction method for Digital advertising of the BFSI sector in Jan-Jun’24 solely covering 80% share.

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