Radio defies doomsayers as revenue grows

While other forms of traditional media are reported to be struggling to maintain revenue, latest figures released by CRA show that the commercial radio industry recorded 5.06% growth in metropolitan advertising for the financial year ended June 2015.

Revenue for the five major metro markets totalled almost three quarters of a billion dollars according to figures sourced by Deloitte and released today by industry body Commercial Radio Australia.

The 2014/15 financial year total of $732,433 million for the five metropolitan markets showed that Brisbane had growth of 7.07% to $116.293 million. Melbourne was up 6.18% to $224.144 million, Sydney rose 5.25% to $226.059 million. Adelaide rose 2.24% to $65.218 million and Perth was up 1.88% to $100.719 million.

A strong June saw 6.65% overall YOY growth for the month across all metropolitan markets to a total of $70.900 million. 

Joan Warner, chief executive officer of CRA said, “Interest in radio from advertisers and agencies has been strong this past year. The industry has successfully promoted the strengths of radio to advertisers with our Radio. It’s A Love Thing brand campaign. This campaign highlights not only the loyalty radio listeners have to their favourite radio presenters, stations and shows  but also highlights the excellent return on investment (ROI) that advertisers can achieve by using radio by itself and in combination with other media.”  

The Deloitte figures report actual revenue received by metropolitan commercial radio stations and include all metropolitan agency and direct revenue.

All of industry figures containing both metropolitan and regional radio financial year revenue figures are compiled by the Commercial Economic Advisory Service of Australia (CEASA) and will be released in August.

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