The commercial radio industry has recorded another month of growth in metropolitan advertising revenue with an increase of nearly nine per cent for the month of October, to a total of $62.53 million, according to figures released today by industry body, Commercial Radio Australia.

According to the 2010 Metropolitan Commercial Radio Advertising Revenue, as sourced by Deloitte, advertising revenue grew in all five metropolitan markets for the month of October by 8.95%, with the strongest growth recorded in Brisbane. 

Brisbane recorded growth in revenue of 12.62% compared to the same month last year to a total of $10.19 million.

Sydney grew 12.4% to a total of $19.7 million for the month of October;

Melbourne was up 6.89% to a total of $19.09 million;

Perth grew by 6.42% to a total of $7.95 million and Adelaide was up 1.86% to a total of $5.5 million.

Commercial Radio Australia’s Joan Warner says the good result for October is pleasing news for the radio industry, particularly the Sydney market:

“The industry is continuing to work hard to promote the many strengths of radio as an advertising source and remains optimistic about the next twelve months.”

The October figures follow strong first quarter growth for the 2011 financial year of 11.8% to $173.66 million for the five metropolitan markets.