Sydney radio revenues nosedive, metro results mixed
Advertising revenue from Sydney radio stations fell by almost 10% year on year in a period that saw patchy results for the metropolitan radio market.
Melbourne also experienced a fall, down 4.23% on the same period last year, while the smaller markets of Brisbane, Perth and Adelaide grew year on year during the March quarter, according to figures released by industry body Commercial Radio Australia (CRA).
Overall the five metropolitan markets show a fall of 3.41%, compared to the same timeframe a year earlier, to a total of $57.325 million.
For the financial year to date, the decrease is less marked, with the five metropolitan markets sitting at $507.1 million, down by 0.39%. Sydney was once again the poorest performer, dropping by 2.76% to $154.952 million, followed by Perth down 0.42% to $68.4 million, Melbourne which grew a mere 0.25% to $152.993 million, Brisbane up 0.55% to $82.645 million and Adelaide which grew 4.08% to $48.109 million.
The CRA attributes the mixed results to fluctuating consumer and business confidence. Chief executive officer of CRA, Joan Warner says the nine month YTD figures reflected the overall uncertain trading conditions, which had impacted some markets more than others, but particularly Sydney.
“The radio industry continues to show itself as a very resilient market in tough trading conditions, with some markets recording growth, but others more patchy results,” Warner says.