Commercial radio revenue recovery continues in March quarter
Advertising revenue for commercial radio stations has continued to improve, according to first quarter figures for 2021 reported by Deloitte.
Despite a 3.76% decline compared to the March quarter 2020, a positive result has helped metropolitan advertising revenue reach $153.418 million, no doubt thanks to restrictions being slowly eased across Australia.
Australia’s largest metro market, Victoria, only recorded a 0.12% fall in comparison to the same period last year, to $52.157 million in the figures released by industry body Commercial Radio Australia (CRA).
Second largest market, NSW reported a 5.06% drop in revenue to $44.963 million, Queensland took the biggest year-on-year hit, reporting $23.0.17 million, 9.10% less than last year, while Western Australia saw a stable 0.34% decrease to $19.752 million. South Australia’s year-on-year numbers fell 7.87% to $13.529 million.
Joan Warner, CRA CEO
“The figures are moving in the right direction and we’re hopeful momentum will build through the year as small business confidence grows and we see them coming back into the market and utilising the reach of radio,” said CRA CEO Joan Warner.
The increase is a much needed boost for the radio industry, as metropolitan ad revenue is down 14.48% to $452.345 million for the nine months of the financial year-to-date.
Last month CRA announced ex-Omnicom exec Jo Dick as chief commercial officer in a newly created role.
The numbers compiled by Deloitte include agency and direct ad revenue in the five major capital city markets. CRA also announced last month the return of regional radio ratings, after a pandemic-induced hiatus.
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Calum Jaspan was news editor at Mumbrella, based in Melbourne. He was also the producer and host of the Mumbrellacast. He left Mumbrella in May 2023.
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