Radio de-grew by 90% in April to June quarter 2020
The Pitch Madison Advertising Report Mid-Year Review predicts radio to see a growth from Rs 1350 crore to Rs 1600 crore
The Pitch Madison Advertising Report Mid-Year Review 2020 reveals that Radio from April to June quarter 2020 de-grew by 90%.
Taking a look at the Indian Advertising Market in Jan-June in the past 3 years, Radio in H1 ’18 recorded Rs 1002 crore, in H1’19 it recorded Rs 1182 crore and this year H1’20 recorded the lowest of Rs 569 crore.
All three years radio contributed 3% of the advertising pie.
Radio suffered a 19% drop in Q1’20 and a dramatic 87% drop in Q2 due to the result of no advertising money in the market. Combining both the downfalls, radio AdEx dropped down by 52%.
Overall, radio AdEx stood at Rs 569 crore for H1’20, and in Q2 they did business worth Rs 71 crore. Due to the decline in growth, radio’s contribution from April to June 2020 was 1%.
The brand categories that got affected due to the decline in growth are BFSI, Auto, E-Commerce, FMCG, and Real Estate. BFSI contributes 13% (Rs 74 crore) to radio advertising followed by FMCG at 10% (Rs 55 crore).
On A Positive Note
During the lockdown, most Radio Platforms integrated with OTT music streaming apps making their content more accessible. Some Radio FM channels used social media to engage with their consumers and organized digital concerts and live chats with celebrities.
The revival of economic activities in June during Unlock 1.0 attracted some local advertisers to Radio Advertising. The report expects Radio to recover its losses by festive season 2020. The 2020 growth forecast for Radio predicts a growth from Rs 1350 crore to Rs 1600 crore.
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