Radio advertising 2023: trends, dynamics, forecasts

Yulia Andryushova, Director of Business Communications and Analytics at GPM Radio, Gazprom-Media Sales House expert, and co-chair of the RACA Radio Committee

Radio is growing faster than the market

The volume of advertising sales on the radio increased to 8.2 billion rubles in the first six months of 2023. Compared to last year’s figures, the growth of radio advertising is 45%, which is significantly higher than the market dynamics (according to RACA data, the entire Russian advertising market grew by 27% in the same period). Although the total number of advertisers has declined slightly over the past three years, their radio budgets have increased by 37%. According to the results of a study conducted by ORO (from April to May 2023), 41% of advertisers consider radio to be a solid medium for advertising placement.

Advertiser categories of Moscow+Network

Today the Moscow+Network segment is one of the most balanced. Six key categories, accounting for 75% of advertising budgets, demonstrate the share of 10% to 15%. Digital (+114%) and Transport and related goods (+88%) entered the top 3 categories, replacing Medicine and Pharmaceuticals and Public Sector. At the end of the January–August period of 2023, the Finance sector (+67%) became the leader with a 15% share of the market. At the same time, 72% of budgets were distributed among the five largest brands: Sber, VTB, Alfa Bank, Tinkoff and Rosbank.

Rostelekom (Wink), SberMarket, Sutochno.ru, Yandex, and Samokat became the top 5 digital advertisers, accumulating 50% of all advertising budgets. The category grew significantly in the third quarter of 2023, up to 20% from only 9% last year. The former leader, Transport and related goods, fell to the third place with a 12% share. However, in July and August, its growth momentum reached 192% of the same indicator in the same period last year. That happened mainly due to new Chinese brands entering the market: EXEED, Jetour, Haval, etc. The growth of the FMCG segment represented by Russian brands is noticeable in radio. These brands have already found their niche with the help of startups that have emerged in the last two years. The localization trend can be observed in the Food Products, Apparel, and Furniture Manufacturers categories.

Special projects and concerts drive the market

Special projects have become more vibrant and ambitious. Their share is 15% or more, depending on the format of the radio station. They are no longer limited to radio broadcasts and utilize various mechanics and platforms. Brands such as Vitrum, Chistaya Liniya, Sber, Alfa Bank, Gazpromneft, Samokat and a great many others choose to place their radio advertising in unusual ways. Concerts have also made a comeback, which is another trend. They have been brought back in 2023 by radio stations that have organized big shows. These events have attracted major advertisers. To communicate with leads, Sber, Viatti, Avtovaz, Omoda, Stolplit, Samokat and other brands used sponsor placements.

Our forecast

So far, only OKKAM (+10%) and OMD OM Group (+17%) have presented their forecasts for the growth of the radio advertising market based on the results of 2023. However, due to the high dynamics in the first six months, these figures are likely to be even higher, up to more than 25%.

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