BFSI sector's ad volumes on print increased by 37% during Jan-Jun ’24 over the corresponding period in 2023. The sector's ad impressions on digital observed a surge of 17% during Jan-Jun’24 over last year. Its ad volumes on television increased by 14% during this time. However, index ad volume growth of BFSI sector on the radio witnessed a 2% drop as compared to Jan-Jun’23. These are some of the key findings of TAM AdEx’s half-yearly advertising report for the banking, financial services and insurance sector (Jan-Jun’24).
Life Insurance Corporation of India (LIC) was the leading advertiser across television, print and radio while Bajaj Finserv took the top spot in digital.
Programmatic was the leading transaction method for Digital advertising of BFSI sector in Jan-Jun’24 solely covering 80% share. Securities/Sharebroking Organisation category ascended to first position in H1’24 with 20% share of ad impressions, compared to fourth 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.
Out of the top 10 brands in print, three of them belonged to LIC of India in H1’24, with a 8% share of ad space. Aside from LIC, NPCI-UPI, and State Bank of India (SBI), all other brands in the Top 10 list were exclusive to the January to June 2024 period when compared to January to 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.
On television, life insurance and LIC of India topped categories and advertisers lists respectively. Meanwhile Muthoot Finance Loan Against Gold was the leading brand in Jan-Jun’24 with an 8% share of ad volumes. Life Insurance and Mortgage Loans retained their first and second positions in Jan-Jun’24 over Jan-Jun’23.
During Jan-Jun’24, the top 10 advertisers accounted for 54% of total ad volumes. National Payments Corp. of India and Share.Market were exclusive brands during Jan-Jun’24 over Jan-Jun’23. News channels were most preferred by BFSI players in Jan-Jun’24, with a 67% share followed by movies with a 15% share in H1’24, according to the half-yearly report.
On radio, the top 10 Brands accounted for 54% share of ad volumes in the Jan-Jun’24, in which LIC Housing Finance retained its first position. Here, six out of the top 10 brands belonged to LIC of India during H1’24. Lic Jeevan Utsav, Acko General Auto Insurance and LICIndex Plus were exclusive brands present in the top 10 list in H1’24 over H1’23. Maharashtra was the leading state for advertising on Radio with 20% share of the sector’s ad volumes in Jan-Jun’24.
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