As the festive season unfolds, the radio industry is buzzing with a surge in advertising, fueled by a vibrant consumer demand, cricket fever due to the World Cup, and blockbuster movie promotions. This year’s Diwali has brought a significant turnaround from the sluggishness of the previous festive season, signaling a robust recovery from the pandemic’s downturn.
Nisha Narayanan of Red FM and Magic FM notes a remarkable shift, citing a much-awaited rebound in advertising enthusiasm, which translates to almost full inventory utilization for leading radio stations. Abraham Thomas from Reliance Broadcast Network echoes this sentiment, highlighting a spike in interest for advertising across various platforms.
Uday Mohan from Havas Media India observes that the festive season has gained momentum, thanks in part to major sporting events and high-profile film releases. Despite no dramatic rise in ad rates, FM stations are innovating to entice brands, with Mohan predicting a 3 to 5% boost in ad spends due to movie promotions and brand collaborations.
HT Media Group’s Fever Network has responded to the demand by hiking advertising prices by 25%, a move that reflects confidence in the value of radio during this period. Nisha Narayanan stresses the importance of stabilizing rates without resorting to pandemic-era discounts, aiming to restore pre-COVID volume shares.
The sectors betting big on radio this season include retail, jewelry, automotive, banking, consumer durables, and fashion. Mohan emphasizes the role of radio in engaging consumers through campaigns that connect on an emotional level, leveraging the positive consumer sentiment that is at a peak this Diwali. According to Tam Adex, real estate tops the ad volume share this season, followed by healthcare and automotive sectors, underscoring the diversity of industries investing in radio advertising for festive outreach.
Source
