Latest figures show advertising revenue for metropolitan commercial radio has continued its strong performance, with another month of growth.
Radio Revenue Performance figures for April, from PricewaterhouseCoopers, reveal a 12% increase to $42m, compared with the same month last year.
The latest figures also show revenue for the five mainland capitals is up 10% to $427m in the ten months to April, compared with the same period a year ago.
Commercial Radio Australia CEO, Joan Warner, says: “the 10 month figure is a good indicator of the strength of the market for commercial radio.
“The radio advertising market continues to perform well and, despite monthly figures this year slowing, overall, the industry is still recording double digit figure growth – a strong result.”
Monthly growth figures for the metropolitan radio market this year are January (19%); February (15%) and March (14.5%).
In April, all major metropolitan markets except Adelaide experienced increased revenue, with the strongest growth in Brisbane (20.5%); Perth (14%); Melbourne (12.5%); and Sydney (12%).
Warner says the industry is working hard to promote radio as an advertising medium, and has almost completed a 12 month, $20m national brand campaign. This delivers the message that radio advertising is twice as effective at reaching audiences throughout the day as television.
The industry has also commissioned research into radio advertising effectiveness and, later this month, is hosting a creative workshop, as part of a strategy to improve the quality of radio ads and convince advertisers to spend more of their budget on radio.