Little change in metro commercial radio advertising revenue for financial year 2023

Metropolitan commercial radio stations recorded advertising revenue of $685,961 million for the financial year ended June 30, 2023, Commercial Radio & Audio has reported, little changed from last year’s $685,995 million.

CRA CEO Ford Ennals said:

“Radio had a strong start to the financial year but the market has been softer in the second half in line with conditions in the broader macroeconomic environment.

“Growth in broadcast revenue ended flat with the previous year, but we are continuing to see very strong growth in digital audio advertising, which is not yet included in these figures.

“Podcasts and streaming remain areas of opportunity for the industry, particularly with the enhanced data capability under the new Radio 360 audience measurement system launched last month.  This shows commercial radio has a weekly radio streaming audience of 3.3 million listeners and growing.”

For the last financial year, Sydney was the strongest performing market, followed by Melbourne, both with small growth. Brisbane and Adelaide were down 2% and Perth by 3%.

GfKs Survey 4, released last week, was only the second survey since the launch of Radio 360 to provide insights on radio streaming audiences. CRA will begin to include digital audio ad revenue figures in its metro radio revenue reports from the September quarter.

The next stage of Radio 360 for CRA include with the integration of podcast listening data and special reports using data collected by the GfK MediaWatch.

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