Radio ad revenue growth accelerates
The commercial radio industry has recorded growth in metropolitan advertising revenue of 5.65 percent for last financial year, more than double the growth of the preceding period.
The figures released today by Commercial Radio Australia show total metropolitan revenue of $683.9 million for the financial year ending June 2011, up from $647.3 in the 2009-10 financial year.
All metropolitan areas except Adelaide saw higher growth than the same time frame last year. The biggest boomer was Perth, up 8.39 percent, compared to 0.73 percent growth in the same time frame last year, followed by Brisbane (6.48%), Sydney (5.92%) and Melbourne (4.64%). Growth in Adelaide remained steady at 2.83%.
The figures were released today in the 2011 Metropolitan Commercial Radio Advertising Revenue report, but weren’t all positive. Results showed overall revenue for the month of June 2011 was slightly down from June 2010, with only Perth and Brisbane recording growth.
Overall, however, these latest figures are sure to be welcome news for radio broadcasters as the industry continues to promote its speed and cost effectiveness. “The radio industry has worked hard to promote the strengths of radio for advertisers with the industry’s ongoing brand campaign and offers cross platform opportunities on radio, online and now also on digital radio,” says Joan Warner, chief executive officer of Commercial Radio Australia.