Commercial radio revenue continues to perform well with the drought breaking, a national radio marketing campaign and new stations generating more interest in radio. Revenue figures are up by 15% in recent months.
Metropolitan advertising revenue for commercial radio in February was around $39m, compared to about $34m a year earlier.
Commercial Radio Australia’s CEO, Joan Warner, says the figures forshadow “a strong financial year for radio,” with a 10% increase in revenue in the eight months to February to about $342m nationally.
“Radio is continuing its strong performance of last year and looks set to increase its market share in 2004, despite a very competitive marketplace for the advertising dollar.
“This is great news for the industry and highlights radio’s resilience and strength in attracting the advertising dollar, based on its cost effectiveness and reliability,” says Warner.
Commercial Radio’s $20m national brand campaign, launched last July, has been “a great success” in attracting increased revenue and helping to raise awareness of the impact of radio advertising according to Warner.
“The message is that radio advertising is twice as effective throughout the day as TV. The advertising industry has rethought the way it uses radio as a medium.”
All states have enjoyed increased revenue, with the strongest growth in Brisbane (30%); Melbourne (22%) and Sydney (12%).