CRA ad revenue figures for July 2022 reveal 0.7% lift across capital cities

Commercial radio ad revenue for the five major Australian capital cities increased by 0.7% to $48.916 million in the month of July compared to $48.571 million a year ago, according to figures that have been released by industry body CRA.

Sydney radio stations recorded a 5.9% year on year increase in ad revenue to $14.690 million in the month. Perth stations grew 3.0% to $6.488 million and Adelaide stations were up 2.0% to $4.424 million. Brisbane reported a 6.7% decrease to $7.138 million and Melbourne was down 1.4% to $16.177 million 

CRA chief executive officer Ford Ennals said that although ad revenue had yet to rebound to pre-pandemic levels, good progress had been made in the calendar year to date, with revenue up 5% on 2021 and 27% for the same time period on 2020.

“Metro commercial radio revenue growth has slowed in the first month of the new financial year to nearly +1% growth but overall revenue remains +5% up year on year versus 2021. In these uncertain economic times our clients and agencies recognise that radio advertising is more effective than ever, offering a highly flexible and affordable way to reach a large audience,“ he said.

Earlier in the month, Ennals announced that the company had rebranded from Commercial Radio Australia to Commercial Radio & Audio. Despite the change, the company will continue to use the abbreviation CRA. 

CRA also introduced a new strapline: “Audio Unlimited”, along with refreshed brand imagery.

Ennals said: “We are experiencing strong growth in digital audio, so it’s timely for CRA to have a stronger focus on identifying new commercial revenue opportunities across the broader audio markets for our members.”

The refreshed brand and a new website was launched at a CRA Board meeting in Sydney attended by Federal communications minister Michelle Rowland.

See More: Commercial Radio Australia rebrands to Commercial Radio & Audio