Figures released by Commercial Radio Australia show a strong start to the year for commercial radio stations nationwide with revenue figures for January up by 19%.

Price Waterhouse Coopers Radio Revenue performance figures show metropolitan advertising revenue for commercial radio in January this year was around $36
million compared to $30 million for the same month last year.

“The figures augur well for a stronger year for commercial radio and follow a solid
performance in 2003 where revenue for the full calendar year increased by about
six per cent to around $485 million,” according to Commercial Radio Australia’s CEO Joan Warner.

Warner says all States have experienced an increase in revenue in January with the
strongest growth recorded in Brisbane (34%); Melbourne (25%) and Sydney (16%).

“This growth also compares well with
many international markets which recorded flatter growth in radio revenue last
year and are expecting 2004 to remain weak with estimates of growth at about
four per cent or less, according to research by an international investment
bank.”

Warner says 2004 looks set to be “a very exciting year for radio Australia-wide” with
radio stations throughout the nation optimistic about growth prospects for the
year.

“I believe radio’s reliability and
cost-effectiveness will again prove its strongest assets in terms of attracting
the advertising dollar in 2004.”

Warner says all eyes in the radio industry will be focused on the results of the
first radio ratings survey of the year, to be released next week, with the most
hotly contested spot being the breakfast segment.

“Commercial radio reaches over two million
people in both Sydney and Melbourne
during breakfast in an average week, so it is a very powerful timeslot.

“The industry is also hopeful of
building on latest figures, which show radio reached 80% of Australians
in 2003 and that people listen to around 19 hours of commercial radio each
week,” says Warner.