The commercial radio industry has recorded growth in metropolitan advertising revenue of 1.99% for the financial year ended June 2014, to a total of $697.127 million, according to figures sourced by Deloitte and released today by industry body, Commercial Radio Australia.
This is below a growth target of 2.6 per cent forecast for 2014 by PwC in its annual Australian Entertainment & Media Outlook which was also released today – see our separate story. However, PwC bases its forecast over a calendar year, not financial year. And with six months to go, radio is well on track to reach 2.6 per cent growth if its performance in the month of June is any indication.
June delivered increases in all markets over the same month last year resulting in a 7.32% gain to a YOY total of $66.479 million.
Brisbane rose 11.72% compared to the previous June to $10.481 million. Perth was also well up by 11.40% to $8.861 million. Sydney grew 8.15% to $21.081. Adelaide rose 5.87% to $6.149 million and Melbourne increased by 3.09% to $19.906 million.
Chief executive officer of Commercial Radio Australia, Joan Warner said: “An outstanding June result showed radio is a cost effective and quick to market option for advertisers looking to capitalise on the last of their financial year budgets.”
Upward Graph: shutterstock