Latest figures released by Commercial Radio Australia show advertising revenue at metropolitan commercial radio stations has fallen overall by 3.8% in October to $57.39 million, compared to the same month last year.

CRA Chief Joan Warner said the latest figures show that the radio ad market remains soft, although the October figure is an improvement on September, which recorded a seven per cent fall in revenue and the first quarter of this financial year which fell by 5.67%.

“The industry will continue to work hard to promote radio as a cost effective and efficient advertising medium and is meeting later this month to further discuss strategy to help promote radio in these challenging trading times,” Ms Warner said.

Sydney, which has seen the biggest revenue decline month on month over the past year shed a further 4.17% to $17.59 million. Melbourne fell by a more modest 3.8% and managed to shade Sydney with a $17.8 million result for October.

All five major metro markets fell compared to October 2008 according to the 2009 Metropolitan Commercial Radio Advertising Revenue as sourced by Deloitte. The figures for the remaining three markets show Perth fell by about two per cent to $7.47 million, , Brisbane fell by 4.9% to $9.05 million and Adelaide fell by 3.03% to $5.4 million.

For the four months year to date of this financial year, revenue generated was $212.7 million, down 5.17% compared to the same timeframe last year.