Tuesday, November 12, 2024

Firms pump 369 mln birr into ads in the 1st quarter of 2022

According to a report released by Omni media Ethiopia, over 369.2 million birr is spent on advertisement in TV and Radio stations in the country. Of these advertisements the top ten companies in Ethiopia have paid more than 125 million birr to TV and radio stations within the past three months to push their advertisement.
Omni media monitors 35 TV and radio stations. In the past three months, these 35 stations spread 71665 spots getting 369.2 million birr in payment. TV stations take the majority share spotting 42,182 advertisements taking the chunk of 340.84 million birr while radio stations spot only 29483 advertisements getting 28.35 million birr.
Omni media from its engagement in digital marketing and media monitoring for the past three months reported that: banks, satellite TV providers, real estate companies, detergent manufacturers, telecom and soft drink producers were the most to advertise content in the top categories from January to March 2022.
Of these top ten companies, according to the report, Ethio telecom tops the list by advertising 2872 spots and paying 24.45 million birr in the three months. This figure is followed by DStv which pushed 4628 spots at a cost of 21.6 million birr while Cooperative Bank of Oromia slots in third with 1499 spots paying 15.8 million birr while Canal+ seats forth spreading 1412 advertisements paying 14.5 million birr. Another financial firm on the list is Awash Bank which pays 9.7 million birr for its 1492 advertisements for the last three months.
Commenting on the issue, the Managing Director of Omni media, Feruz Jemal stressed that even though the volume of advertisements is growing steadily, the income of stations is not as growing as much as it should. Covid and instability of the country were notable reasons for the slightly stagnating income growth.
Advertising and trade promotion is important in the Ethiopian market. Government-owned mass media outlets (radio, television, and newspapers) and privately-owned magazines, satellite television stations, newspapers, radio stations and billboards are the major means of advertising and most private media outlets run their business using their income from advertisement.
“All stakeholders should take fast actions similar to the growth of advertisements, for the sustainability of media,” recommended Feruz as he sensitized on market opportunity capitalization.

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