BFSI ad impressions on digital observed a massive surge of 91% during Jan-Jun’23 over the corresponding period in 2022, according to TAM AdEx’s half-yearly advertising report for the banking, financial services and insurance sector (Jan-Jun’23).
Programmatic was the leading transaction method for digital advertising of BFSI sector in Jan-Jun’23 with 61% of share. Mutual funds ascended to first position with an 18% share of ad impressions, while credit cards and retail banking were the new entrants in the top 10 list of categories during Jan-Jun’23.
Life Insurance Corporation of India (LIC) was the leading advertiser across television, print and radio while AMFI (Association Of Mutual Funds In India) took the top spot in digital.
The BFSI sector's ad volumes on television increased by 4% and the Index ad volume growth on Radio increased by 32% during the same period.
On print, however, the BFSI ad space witnessed a degrowth of 7% during the same period. Out of the top 10 brands in print, 5 of them belonged to LIC of India in H1’23, with a 19% share of ad space. LIC Dhan Varsha, Adani Enterprise-IPO, HDFC Systematic Investment Plan & LIC New Pension Plus were exclusive brands present in Jan-Jun’23 over Jan-Jun’22. English language had the highest share of ad space in the medium, i.e., 51%.
On television, life insurance and LIC of India topped categories and advertisers lists respectively while Muthoot Finance Loan Against Gold was the leading brand in Jan-Jun’23 with an 8% share of ad volumes. Housing/construction loans, multiple loans and retail banking were the new entrants in the top 10 list of categories in Jan-Jun’23 compared to Jan-Jun’22. During Jan-Jun’23, the top 10 advertisers accounted for 58% of total ad volumes. Piramal Capital & Housing Finance was an exclusive advertiser with a 5% share of ad volume in H1’23 over H1’22. News channels were most preferred by BFSI players in Jan-Jun’23, with a 68% share followed by movies with a 14% share in H1’23, according to the half-yearly report.
On radio, the top 10 brands accounted for 58% share of ad volumes in the Jan-Jun’23, in which LIC Housing Finance retained its top position. Here too, five out of the top 10 brands belonged to LIC of India during H1’23. LIC Dhan Varsha, LIC Pension Plus & AMFI were exclusive brands present in the top 10 list during the period. Maharashtra was the leading state for advertising on radio with a 20% share of the sector’s ad volumes in Jan-Jun’23.
