The highest volume of the radio advertising market in the past 10 years: last year’s results, dynamics, and forecasts in the new Advertising Yearbook

In the publication, Yulia Andryushova, Director of Business Communications and Analytics at GPM Radio, gave an expert assessment of last year’s radio advertising market and shared future forecasts.

The Russian Academy of Advertising released a collection of articles by key experts in the Russian advertising market, summarizing the results of 2023. In the 24th Russian Advertising Yearbook, key players describe the state and dynamics of the industry. Yulia Andryushova, co-chair of the RACA Radio Committee, GPM Ads expert, and Director of Business Communications and Analytics at GPM Radio (part of Gazprom-Media Holding), spoke about the areas of radio advertising development.“For the first time in many years, radio advertising “sounds” in a new way: there are new advertisers, increased interest in special projects, new formats of advertising integrations, and much more”,– notes Yulia Andryushova.

In her article, the expert presents the structure of the modern radio advertising market and highlights changes in specific segments. For example, the “Automotive and Related Products” category, which lost its leading position in 2022, saw significant growth in radio marketing investments last year, with advertising budgets increasing by more than 110%. The main advertisers were Chinese and Russian brands, replacing European, Japanese, and American manufacturers. The “Financial Sector” led the “Moscow+Network” segment by the end of 2023. The emergence of new products and the development of ecosystems around the main brand has contributed to the growth of this category. The SME segment of the radio market is also growing. The share of SMEs using advertising increased to 25%.

“Radio allows businesses not only to effectively promote startups but also to increase loyalty and sales for companies that have been in the market for several years and are successfully integrated into communication strategies. The withdrawal of some foreign internet resources has changed the media landscape and strengthened the position of radio in the media mix due to its reach, accessibility, and responsiveness”, – says Yulia Andryushova. The expert believes that the growth rate of advertising interest from companies investing in radio will continue in 2024.

The latest edition of the Advertising Yearbook features 31 articles from 44 authors, presenting extensive statistics on the advertising market. Among the contributors are Vladimir Filippov, President of the Russian Academy of Advertising (RAR) and Vice President of RACA; Valentin Smolyakov, First Vice President and COO of RACA; Sergey Veselov, Advisor to the CEO of NSK and Vice President of RACA; Vladimir Evstafiev, Head of the Department of Advertising and Public Relations at Moscow State University and Vice President of RACA.

You can read the publication by the Director of Business Communications and Analytics at GPM Radio Yulia Andryushova, as well as materials from other experts, on the RACA website.

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