Banking Overtakes Betting: Inside Kenya's KSH 48B Advertising Market Transformation|Kenya Media Landscape Report Jan-Sep 2025

Market Contraction & Regulatory Impact

The Kenyan media ecosystem is experiencing a profound transformation. Between January and September 2025, we witnessed regulatory upheavals, spending realignments, and evolving consumption patterns that have fundamentally altered how brands connect with audiences.

Kenya's economy is showing a gradual recovery, with GDP growth projected at 4.5% in 2025, rising to 4.9% by 2027. The services sector continues outperforming overall GDP, while inflation has stabilised at 4.6% (September 2025) after peaking at 7.7% in previous years. However, approaching the 2027 elections may trigger cautious advertising spend as businesses navigate political uncertainty.

 

Overall advertising spend declined 19% year-over-year (Jan-Sept 2025 vs 2024), totalling KSH 48.0B, down from KSH 59.3B. Traditional media bore the brunt: TV spending dropped 24% to KSH 27.16B, radio fell 11% to KSH 19.79B, and print plummeted 25% to KSH 1.05B. 

The primary driver of this decline wasn't economic weakness; it was regulatory intervention. In April 2025, Kenya's Betting Control and Licensing Board implemented stricter advertising regulations, including a one-month outright ban on betting-related advertising.

The impact was immediate and substantial.

Advertising Sector Shifts

Banking emerged as the leading advertising category at 16%, overtaking betting and gambling (which dropped from 22% to 9%) following regulatory crackdowns. Finance (13%), communication (11%), and media (11%) round out the top sectors. Personal care maintained a steady presence at 9%.

Top Spenders & Campaigns

Safaricom PLC led with KSH 4.53B in spend, followed by MultiChoice Kenya (KSH 2.91B) and KCB (KSH 2.31B). Campaign highlights included KCB Goal Savings Account (KSH 943.5M), Airtel Smarta Bundle (KSH 900.7M), and M-PESA Sokoni Festival (KSH 824.4M).

Safaricom's position as Kenya's most valuable brand is reinforced by its advertising leadership. MultiChoice maintains aggressive spending despite economic headwinds, driven by competitive pressure from streaming services. The strong showing from KCB and Co-operative Bank reflects the banking sector's advertising surge.

Notably absent from the top 10: betting companies that dominated the 2024 rankings. Betika.com dropped from KSh 1,246.4 million (ranked 10th in 2024)&  Shabiki fell from KSh 1,713.1 million.

TV  Advertising Dynamics

Among the leading corporate advertisers, MultiChoice Kenya invested the most heavily, with a total ad spend of KSh 1,485.0 million. It was followed by telecommunications leader Safaricom PLC, which allocated KSh 805.9 million, and KCB, which committed KSh 770.4 million to its advertising efforts.

Citizen TV stands as the undisputed leader in advertising revenue, having secured a substantial KSh 7,337 million in ad spend. It is followed by KTN Home, which captured KSh 3,646 million, demonstrating a significant market presence. Rounding out the top three is Inooro TV, which attracted KSh 2,889 million in advertising investment.

Radio Advertising Dynamics

Radio demonstrated more resilience than television, declining only 11% compared to TV's 24% drop. This relative strength reflects radio's lower absolute costs, making it less vulnerable to budget cuts, and its effectiveness for local and regional advertisers.

Safaricom PLC leads as the top investor, dedicating KSh 2,695.0 million to the medium. It is followed by KCB, which committed KSh 1,244.4 million, and Co-operative Bank of Kenya, which allocated KSh 753.3 million to its radio campaigns.

In the radio sector, Radio Jambo attracted the highest advertising revenue at KSh 2,050 million, leading the market. It was followed by Kass FM, which secured KSh 1,650 million, and Citizen Radio, which garnered KSh 1,453 million in ad spend.

Print Advertising Dynamics

Print continues its secular decline, though it retains specific utility for government notices, legal advertisements, and credibility-driven financial services marketing.

Government and regulatory bodies dominate print advertising, reflecting legal requirements for public notices. Commercial advertisers have largely migrated to more cost-effective media.

Among print publications, the Daily Nation led the market with an advertising revenue of KSh 316 million. It was followed by The Standard, which secured KSh 277 million, and My Gov, which garnered KSh 222 million in ad spend.

In the print advertising sector, the National Environmental Management Authority was the leading advertiser with an expenditure of KSh 44.0 million. Equity Group Holdings followed with a spend of KSh 22.1 million, and the Energy and Petroleum Regulatory Authority invested KSh 20.1 million.

Out-Of-Home Resilience

OOH advertising showed remarkable stability, averaging KSH 500M monthly with sustained growth peaking at KSH 614M in September 2025. The beverage sector dominated at 19% of OOH spend, with East African Breweries Limited leading at 13%. 

Monthly spending ranged from KSh 428 million to KSh 614 million, with an upward trajectory from mid-year through September. Unlike the volatile patterns in TV and radio, OOH demonstrated consistent investment.

The beverage sector's dominance reflects East African Breweries Limited's (EABL) strategic pivot to OOH. With alcohol advertising restricted during daytime broadcast hours, EABL deployed extensive OOH assets nationwide—both large-format billboards and tactical placements—to maintain brand visibility.

Media Consumption Patterns

Between August and September 2025, we tracked 481 panellists across major urban centres representing 10 of Kenya's 11 media topographies. The resulting data provides unprecedented insight into viewing behaviours:

Television Dominance

Despite digital disruption narratives, television remains Kenya's most potent mass-reach advertising vehicle. Our pilot study of urban Kenyan audiences reveals television's continued dominance and evolving nuances. Citizen TV commands overwhelming viewership with 68.1% of viewing events and 29.4% unique reach (4.7M). The 25-34 age group represents the core TV audience (50.9%), with males slightly dominating reach. 

Interestingly, vernacular television stations demonstrate particularly strong engagement among audiences aged 35 and above. These stations deliver not just demographic precision but cultural resonance, critical for categories like financial services, healthcare, and agricultural inputs, where trust and contextual relevance drive conversion.

Radio: Urban & Language Dynamics

Radio captured 13.76M unique listeners, with urban-focused stations (Milele FM, Classic 105, Kiss FM) leading according to the pilot results. English, Swahili, and vernacular stations each hold roughly 30-35% reach. Listenership peaks during morning (06:00-09:00) and drive-time shows (17:00-19:00), with the 25-34 demographic dominating at 61.4% for top stations.

Gender Patterns

Unlike television's male skew, radio audiences tilt slightly female (54% reach). This gender dynamic varies by station:

• Kiss FM attracts the strongest female audience (8.1% female reach)
• Milele FM demonstrates balanced gender appeal (7.6% female, substantial male presence)
• Citizen Radio skews male (62% male reach)

The media-consuming urban population skews young (70% aged 15-44), highly educated (69% university-level), and employed/self-employed (69.7%). Males comprise 53% of the sample, though radio shows a slight female skew in consumption.

The Kenyan media landscape is transitioning under economic pressure, regulatory shifts, and digital acceleration. Advertisers must navigate declining traditional media ROI while optimising for resilient channels like OOH and exploring digital-first strategies. The 25-34 demographic remains the golden cohort across all platforms, demanding authentic, mobile-optimised content. As the 2027 elections approach, brands should anticipate volatility and build flexible media strategies that balance reach with cost efficiency.

Reelanalytics provides actionable media and market insights to brands and organisations, which guide strategic communication and business strategies. For questions about the data or media consumption insights, get in touch.