Radio revenue for metropolitan markets returned to positive for May with all markets recording growth, according to industry body, Commercial Radio Australia.
Figures from the 2012 Metropolitan Commercial Radio Advertising Revenue report show advertising revenue for the month of May for the five metropolitan markets was up 3.97% year on year, to a total of $60.718 million.
Adelaide experienced the highest growth, jumping 8.5% to $6.3 million, followed by Melbourne, up 4.5% to $18.0 million, Sydney up 3.6% to $19.2 million, Perth up 3.2% to $7.9 million and finally Brisbane up 1.5% to $9.5 million.
The result was a turn around for the Sydney market according to chief executive officer of Commercial Radio Australia, Joan Warner. “This is the first time in the past twelve months that the Sydney market has recorded a monthly increase in revenue, so this is good news,” Warner says.
For the eleven months financial YTD (ending May 2012), the figures show a slight fall of 0.17% for the five metropolitan markets combined, with revenue totalling $620.4 million.
The figures, compiled by Deloitte, report actual revenue received by metropolitan commercial radio stations for the calendar month and include all metropolitan agency and direct revenue.