Figures released today by the Commercial Economic Advisory Service of Australia (CEASA) show radio has enjoyed a rise of almost 5% in advertising growth.
Commercial radio has continued its consistent performance in attracting ad revenue, experiencing a jump of 4.9% in 2003 over the previous year. This amounts to $737m for the 2003 calendar year.
Commercial Radio Australia CEO, Joan Warner, says: “radio is the only medium to increase its ad expenditure each year for the past three years, demonstrating a consistent performance in a competitive marketplace.
“Radio revenue grew by 1.6% in 2001, compared with 2000, and increased 1.1% in 2002 over 2001.
“While commercial radio might not have grown as strongly in 2003 as other media, it has performed consistently over the past three years. The industry is working hard to raise awareness about the many strengths of radio advertising – its cost effectiveness, flexibility and reach.
“The CEASA Advertising Expenditure in Main Media report shows non-national and national categories for radio grew in 2003, compared to the previous year. Total radio expenditure remains around 8% of overall ad revenue.
“Both metropolitan and regional stations have also experienced growth during 2003.
“Ad revenue for metropolitan radio (including national and non-national) has risen to $485m (up 6.2%) and, for regional radio (national and non-national), it’s grown to $239m (up 4.6%).
“These figures, coupled with strong growth in the first two months of this year (PricewaterhouseCoopers’ figures), suggest commercial radio looks set to continue its consistent performance in attracting ad revenue this year.”
The drive in growth has been attributed to increased advertising from retailers, such as Coles Myer and David Jones, car makers and telcos.