Metropolitan commercial radio ad revenue increased 8.8% in June Qtr and 9.3% in 2021/22 financial year
Advertising revenue for metropolitan commercial radio stations increased 8.8% 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% increase for the 12 months ending June 2022 compared to the same period one year earlier.
Melbourne’s revenue was up 12.5% year on year to $63.867 million in the June quarter, Perth revenues grew by 9.9% to $24.563 million, Sydney was up 8.2% to $57.509 million, Brisbane was up 4.3% to $28.391 million, and Adelaide was 3.4% 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% 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% rise compared with June last year, generating $23.122 million in ad revenue. Sydney climbed 5.7% to $20.790 million, Perth was up 2.6% to $8.539 million, Brisbane saw some growth with a 0.5% rise recording $10.296 million in ad revenue and Adelaide declined by 1.6% 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% increase in the past year.