BFSI sector print ad volumes up 16% in 2022 over 2021: TAM AdEx

Ad Space of the BFSI sector in print grew by 74% in Y 2022 over Y 2020 and by 16% in Y 2022 as compared to Y 2021, as per TAM AdEx’s relook at the BFSI sector’s advertising during 2022. Meanwhile, index ad volume growth of the BFSI sector increased by 27% during Y 2022 as compared to Y 2020.

TV

The BFSI sector’s ad volumes on television increased by 13% in the Y 2022 as compared to Y 2020. However, there was slight dip when compared to Y 2021.

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Life Insurance had the highest ad volume share among any of the BFSI sector with 24%. The Top 5 categories accounted for more than 60% of the total ad volume of the Sector. During Y 2022, the Top 10 advertisers accounted for 53% of the total ad volumes, with LIC of India leading the pack with a 16% share.

Among the Top 10 BFSI brands, four of them were of LIC of India. The Top 10 Brands accounted for 39% share of the ad volumes in the Y 2022, with Muthoot Fin Loan Against Gold securing the first position.

Top 2 TV channel genres – News (67%) ad Movies (13%) – accounted for 80% of ad volumes share for BFSI sector during the Y 2022. The News Channel Genre was the most preferred by BFSI players in the Y 2022. News Bulletin was the most preferred program genre to promote brands under the BFSI sector on Television. The Top 2 program genres, that is, News Bulletin and Feature Films, together added more than 55% 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 73%.

Advertisers of the BFSI sector preferred 20-40 seconds ad size on TV. 20-40 seconds and <20 seconds ads together covered 89% shares in Y 2022.

Print

Ad Space of the BFSI sector grew by 74% in Y 2022 over Y 2020 and by 16% in Y 2022 as compared to Y 2021. Public Issues dominated the Top 10 Categories with 20% of the Ad space share. LIC of India was the top advertiser in the sector with 14% share of the ad space during the Y 2022. The Top 10 categories and advertisers accounted for 58% and 28% share of ad space, respectively.

Brands of LIC of India dominated the Top Brands list in the Y 2022. The top 10 brands accounted for 17% share of the total Ad Space in Print.

English language had the highest share of Ad Space, that is, 48%. The Top 5 Publication languages together added 87% share of the sector’s ad space. General Interest commands Ad Space in General Newspaper with 62%.

South Zone transcends with 34% share of the BFSI advertising in Print in Y 2022. Mumbai and New Delhi were the top cities in West Zone and North Zones, respectively.

Radio

Index ad volume growth of the BFSI sector increased by 27% during Y 2022 as compared to Y 2020. When compared to Y 2021, the BFSI Sector witnessed marginal ad volume drop in Y 2022.

Life Insurance dominates the Category list with 30% of the total BFSI ad volumes. The Top 10 categories added 89% ad volume share of the sector on Radio. The Top 10 Advertisers added 76% share of the ad volumes during Y 2022, among which LIC of India was the leading Advertiser.

The Top 10 Brands accounted for 49% share of the ad volumes in Y 2022, in which LIC Housing Finance is the leading Brand. Six out of the Top 10 brands were of LIC of India during Y 2022.

The Top 3 states occupied 45% share of the Ad Volumes for the BFSI sector. Maharashtra topped the state-list with 20% share of the sector’s ad volumes in Y 2022.

Advertising for BFSI was preferred in the Evening, closely followed by Morning time-band on Radio. 85% share of the BFSI Ad Volumes was in the Evening and Morning time-bands in Y 2022.

Digital

On the Digital medium, ad insertions grew by 10% during the Y 2022 as compared to the Y 2020. Life Insurance was the leading category with 22% share of the digital sector’s advertising. The Top 10 categories added 88% share of the sector ad insertions. The Top 10 Advertisers had 39% share of the ad insertions during Y 2022, with LIC of India on top of the list, adding 10% share.

The Top 10 Brands accounted for 31% share of the ad insertions in Y 2022, with AMFI (Association of Mutual Funds in India) leading the list.

Ad Network was the top transaction method for Digital advertising of the BFSI sector in Y 2022 with 53% of share. Programmatic/ Ad Network and Programmatic transaction methods together captured 35% share of the BFSI ad insertions on Digital.