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Monday, June 17, 2024

Metro Radio Ad Revenue Increased 8.8% in June Qtr and 9.3% in 21/22

Advertising revenue for metropolitan commercial radio stations increased 8.8 percent in the June 2022 quarter, totalling $190.855 million, up from $175.431 million recorded in the same quarter in 2021, according to data compiled by Milton Data and released by industry body Commercial Radio Australia.

The quarter results continued the steady rebound in ad revenue over the last financial year, which saw a 9.3 percent increase for the 12 months ending June 2022 compared to the same period one year earlier.

Melbourne’s revenue was up 12.5 percent year on year to $63.867 million in the June quarter, Perth revenues grew by 9.9 percent to $24.563 million, Sydney was up 8.2 percent to $57.509 million, Brisbane was up 4.3 percent to $28.391 million, and Adelaide was 3.4 percent higher at $16.525 million.

CRA Chief Executive Officer Ford Ennals said the consistent growth in revenues reflected consumer habits returning to pre-pandemic days resulting in renewed advertiser confidence.

“Government spend and party political advertising for the election was a contributor to ad revenue growth in April and May but pleasingly we saw radio ad revenue growth maintained in June post-election after the dust had settled,” he said.

June monthly results saw the five major Australian capital city markets record a 6.6 percent rise compared to the same month the previous year. Ad revenue totalled $68.398 million compared to $64.190 million in June 2021.

Melbourne stations recorded a 14.4 percent rise compared with June last year, generating $23.122 million in ad revenue. Sydney climbed 5.7 percent to $20.790 million, Perth was up 2.6 percent to $8.539 million, Brisbane saw some growth with a 0.5 percent rise recording $10.296 million in ad revenue and Adelaide declined by 1.6 percent recording $5.650 million.

Mr Ennals also pointed to the huge audience gains in commercial radio audiences making it an increasingly attractive medium for advertisers. The latest GfK radio survey four which surveys radio audiences from April to June in the major metros, saw commercial radio listening hit a new record number of listeners nationally to 12 million per week, a 7.6 percent increase in the past year.


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