Commercial radio market continues to bounce back with $153m quarter
• Victoria, the largest radio market, recorded only a 0.12% year-on-year fall
Advertising market conditions have continued to improve for commercial radio stations in 2021, with metropolitan advertising revenue reaching $153.418 million in the March quarter, a 3.76% decline compared to the same period a year ago.
Victoria, the largest radio market, recorded only a 0.12% year-on-year fall in revenue to $52.157 million according to the figures compiled by Deloitte and released by industry body Commercial Radio Australia.
NSW metro radio stations reported a 5.06% fall in ad revenue to $44.963 million, while Queensland was 9.10% lower to $23.017 million. Western Australia was relatively steady at down 0.34% to $19.752 million, while South Australia was 7.87% lower to $13.529 million.
“The figures are moving in the right direction and we’re hopeful momentum will build through the year as small business confidence grows and we see them coming back into the market and utilising the reach of radio,” said CRA chief executive officer Joan Warner.
The Deloitte figures report revenue received by metropolitan commercial radio stations in the five major capital city markets and include agency and direct ad revenue.
For the nine months of the financial year to date, metropolitan ad revenue was down 14.48% to $452.345 million.
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