MAM
Radio ads show steady but modest growth in 2025: TAM AdEx
MUMBAI: If the airwaves could blush, 2025 would have them glowing, because advertisers clearly couldn’t keep their hands off the radio dial. Fresh data from TAM AdEx shows that radio advertising in India continued to hum along in 2025, posting a modest but steady 2 per cent growth over 2024. It is not exactly a sonic boom, but it is enough to suggest that brands still see value in speaking directly into listeners’ ears, especially when the rest of the media landscape is battling for attention.
The longer arc tells a stronger story. Average ad volumes per station have risen by a striking 40 per cent in 2025 compared with 2021, underlining radio’s quiet resilience even as digital platforms dominate headlines.
Quarterly trends reveal a consistent uptick through the year. Average daily ad volumes climbed from 406 hours in the January–March quarter to 436 hours in October–December, marking a 10 per cent jump between the second and fourth quarters of 2025.
That steady rhythm was largely powered by a familiar set of sectors. Services retained its top spot, accounting for a hefty 30 per cent share of total radio ad volumes. Auto, food and beverages, education, and building materials rounded out the top five, with the top ten sectors together commanding 90 per cent of all radio advertising.
At the category level, real estate dominated the dial. Properties and real estate alone accounted for 15 per cent of total ad volumes, making it the leading category in 2025.
Cars followed with an 8 per cent share, alongside retail jewellers at another 8 per cent. Hospitals and clinics, clothing retailers, electronics outlets, and education courses made up the rest of the top ranks. In all, more than 410 categories advertised on radio during the year, though the top ten accounted for 53 per cent of the total share.
Among fast risers, jewellers sparkled brightest, registering an 18 per cent growth in ad volumes over 2024. Car advertising followed with a 15 per cent rise. Some financial and banking categories, meanwhile, posted dramatic surges, with corporate NBFC advertising jumping nearly 79 times year on year.
When it came to advertisers, the automotive sector had a clear edge. Maruti Suzuki India emerged as the top advertiser of 2025, followed by LIC of India.
The top ten advertisers together accounted for 15 per cent of total radio ad volumes, with names such as Tata Motors, Hyundai Motor India, Honda Cars India, SBI, and Muthoot Financial Enterprises featuring prominently. More than 9,500 advertisers used radio during the year, highlighting the medium’s wide appeal.
At the brand level, Maruti Suzuki Arena topped the charts, with Vimal Pan Masala, Jeena Sikho, Muthoot Financial Enterprises, and SBI among the other leading brands. The top ten brands together contributed 7 per cent of total ad volumes.
The medium also saw fresh entrants. More than 4,800 advertisers appeared on radio in 2025 who were absent the previous year. Among these exclusive advertisers, Sapphire Media led the pack.
Geographically, Gujarat emerged as the leading state with a 17 per cent share of radio ad volumes, followed by Maharashtra at 15 per cent. The top five states together accounted for more than 60 per cent of total ad activity.
At the city level, Jaipur topped the list, ahead of New Delhi, Nagpur, Surat, and Indore. The top ten cities together accounted for 63 per cent of total radio ad volumes.
Advertisers clearly had a favourite time to talk to listeners. The evening band (5pm to 10pm) attracted the largest share of ads, followed by the morning slot. Together, these two time bands accounted for 69 per cent of all radio advertising.
As for ad length, the sweet spot remained the 20 to 40 second slot, which accounted for around 68 per cent of commercials in 2025. Longer ads, those over 60 seconds, also saw a 9 per cent rise compared with the previous year.
In an age of scrolls, swipes, and streaming, radio’s steady gains may seem understated. But the numbers suggest a medium that continues to hold its own, especially in regional markets and high-frequency retail categories.
The growth may be just 2 per cent year on year, but with a 40 per cent jump over the past four years, the old-fashioned radio spot still appears to have plenty of life left in it. After all, while screens may steal the spotlight, the airwaves are still where many brands find their voice.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
