Strong Ad revenue reported for radio in July

Commercial radio continues to “perform well” this year with advertising revenue figures for July up by about 25% according to the latest figures.

Price Waterhouse Coopers Radio Revenue performance figures show metropolitan advertising revenue for commercial radio in July this year was around $45.7 million compared to around $36.5 million for the same month last year.

Commercial Radio Australia CEO Joan Warner says all States have experienced an increase in revenue in July with the strongest growth recorded in Brisbane (44% to $6.8 million); Perth (37% to $4.5 million); Melbourne (31% to $12.2 million); Sydney (19% to $18.2 million); and Adelaide (6% to $3.9 million).

“This growth follows a very strong performance in the financial year ended in June, which showed a total increase of about 12% to $520 million, compared to the previous financial year… These figures highlight the effectiveness of the industry’s $40 million national advertising campaign which promotes the benefits of advertising on radio.

“The July figure also sets a good launching pattern for an even stronger result this financial year for radio which is great news for the industry.”

Warner says commercial radio’s brand campaign had been well supported by the industry. It will continue for a further twelve months with a new series of advertisements launched last month.

“The campaign over the past twelve months has exceeded our expectations in terms of generating awareness and altering the perceptions of radio, and now obviously has also helped deliver more dollars to the bottom line.”