MUMBAI: BFSI sector’s ad volumes on television increased by 19% in during Jan-June 2024 compared to Jan-June 2022. The rise was 14% when compared to Jan-June 2023. The Life Insurance and Mortgage Loans categories retained their first and second positions in Jan-Jun’24 over Jan-Jun’23.
The TAM AdEx-Half Yearly Advertising Report – BFSI (Jan-Jun’24) has been published. LIC of India and Muthoot Financial Enterprises retained their first and second positions in advertisers during H1 2024 over H1 2023. The news channel genre was the most preferred by BFSI players in Jan-June 2024.
The BFSI sector’s ad volumes on Print increased by 27% during Jan-June 2024 compared to Jan-June 2022. The increase was 37% when compared to Jan-June 2023. The Life Insurance category retained its first position in H1 2024 over H1 2023.
Bonds and Credit Cards categories were the new entrants in the top 10 list during H1 2024 over H1 2023. The South Zone secured first position in BFSI advertising with a 34% share.
Radio: Index ad volume growth of BFSI sector witnessed an increase of 30% during Jan-June 2024 compared to Jan- June 2022. A 2% drop was seen during Jan-June 2024 compared to Jan-June 2023. Life Insurance dominates the Category list with 31% of the total BFSI ad volumes.
Maharashtra was the leading state for advertising on Radio with 20% share of the sector’s ad volumes in Jan-June 2024. Advertising for BFSI was preferred in the Evening and Morning time-bands on Radio.
Digital: On Digital medium, ad impressions observed an increase by 74% during the H1 2024 compared to H1 2022. The increase was 17% when compared to H1 2023. The Securities/Sharebroking Organisation category ascended to the top position in H1 2024 with 20% share of ad impressions compared to fourth rank in H1 2023.
The top 10 Advertisers collectively added 50% share of ad impressions during H1 2024 with Bajaj Finserv leading the list. Programmatic was the leading transaction method for Digital advertising of BFSI sector in Jan-June 2024 solely covering 80% share.
A More Detailed Analysis of BFSI Advertising On Each Sector
TV
Top 10 Categories and Advertisers of BFSI sector on TV
The top 10 categories together accounted for 89% share of ad volumes in TV during Jan-Jun’24.
Life Insurance & Mortgage Loans retained their first and second positions in Jan-June 2024 over Jan-June 2023.
National Payments Corp. of India and Tata Aig General Insurance Company were the new entrants in the top 10 list of Advertisers in Jan-June 2024 compared to Jan-June 2023.
During Jan-June 2024, the top 10 advertisers accounted for 54% of total ad volumes.
LIC of India & Muthoot Financial Enterprises retained their top two positions in advertiser during H1 2024 over H1 2023.
Top 10 Brands of BFSI sector on TV
The Top 10 Brands accounted for 39% share of 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-June 2024 over Jan-June 2023.
Tata AIG Health Insurance was the new entrant in the top 10 list of Brands during Jan-June 2024.
Most Preferred Channel Genres by BFSI advertisers on TV
Top 3 TV channel genres accounted for 94% of ad volumes share for BFSI sector during H1’24.
News Channel Genre was most preferred by BFSI players in Jan-Jun’24.
Most Preferred Programme Genres by BFSI advertisers on TV
News Bulletin, the most preferred programme genre to promote brands in BFSI sector on Television.
The top two programme genres i.e. News Bulletin and Feature Films together added 63% of the sector’s ad volumes.
Time Band analysis for BFSI advertising on TV
Prime Time garnered 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.
Preference of ad size by advertisers of BFSI sector on TV
Advertisers of BFSI sector preferred 20 – 40 sec ad size on TV during H1 2024.
20-40 seconds and <20 seconds ads together covered 92% share.
Top 10 Categories and Advertisers of BFSI in Print
Life Insurance retained its top position in H1 2024 over H1 2023.
Bonds & Credit Cards were the new entrants in the top 10 list of categories during H1’24 over H1 2023.
During H1 2024, the top 10 categories together added 47% share of ad space.
LIC of India retained its top position among advertisers in Jan-June 2024 with 12% share of ad space.
In Print Medium, the top 10 advertisers of the BFSI Sector together added 31% share of ad space in Jan-June 2024
Top 10 Brands of BFSI in Print
Out of the top 10 brands in H1’24, 3 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 to June 2024 period when
compared to January to June 2023.
Newspaper: Publication Language & Genre for BFSI in Print
English language has the highest share of ad space, i.e., 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 to June 2024.
Zone wise Advertising share of BFSI Sector in Print
South Zone was the leading territory with 34% share of BFSI advertising in Print in Jan-June 2024.
Chennai and New Delhi were top cities in South Zone and North Zone respectively.
Radio
Top 10 BFSI Categories and Advertisers on Radio
Life Insurance dominates the Category list with 31% of the total BFSI ad volumes. Top 10 categories added 91%
ad volume share of sector on Radio.
The Top 2 Advertisers retained their respective positions in Jan-June 2024 compared to Jan-June 2023.
Top 10 Advertisers added 78% share of ad volumes during H1 2024, among which LIC of India was the leading advertiser.
Top 10 Brands of BFSI on Radio
Top 10 Brands accounted for 54% share of ad volumes in the Jan-June 2024,
in which LIC Housing Finance retained its 1st position.
6 out of Top 10 brands belonged to LIC of India during H1 2024.
Lic Jeevan Utsav, Acko General Auto Insurance & Lic Index Plus were
exclusive brands present in the top 10 list in H1 2024 over H1 2023.
State-wise share of BFSI advertising on Radio
The Top 3 states occupied 46% share of 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-June 2024.
Time Band analysis for BFSI advertising on Radio
Advertising for BFSI was preferred in Evening closely followed by Morning time-band on Radio.
89% share of the BFSI Ad Volumes were in Evening and Morning time-bands in Jan-June 2024.
Digital
Top 10 Categories and Advertisers of BFSI on Digital
Securities/Sharebroking Organisation ascended to the top position in H1 2024 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-June 2024.
Top 10 Advertisers collectively added 50% share of ad impressions during H1 2024 with Bajaj Finserv leading the list.
Top 10 Brands of BFSI on Digital
Top 10 Brands accounted for a 45% share of ad impressions in Jan-June 2024.
Bajaj Finserv secured the top position with 9% share of ad impressions in H1 2024 over H12023.
Transaction Methods of Digital Advertising in BFSI Sector
Programmatic was the leading transaction method for Digital advertising of thre BFSI sector in Jan-June 2024 solely covering an 80% share.
