Radio ad revenue drops in March quarter, with CRA citing election and softening market conditions
Commercial radio metropolitan advertising revenue declined by 2.6% during the March quarter according to data compiled by Deloitte.
The figures, released by Commercial Radio Australia, showed ad revenue dip to $181.612m from $186.518m during the same period a year ago.
Revenues dipped across all five major capital city markets in the quarter, something CRA chief executive officer Joan Warner said is thanks to softening economic conditions.
Warner said brands are waiting for the election to be over
“Weaker business conditions and election uncertainty are impacting on all media sectors. Many advertisers have plans on hold until after the election,” said Warner.
Revenue dropped 1.37% in Melbourne, but the city was still the largest radio ad market with $58.856m in ad revenue in the March quarter, followed by Sydney with $56.336m, a dip of -1.70%.
Brisbane commercial radio stations reported a -4.66% decline in revenue to $27.531m, while Perth was -4.69% lower at $23.183m, and Adelaide was down -3.82% to $15.705m.
The decline comes after ad revenue grew 3.4% in 2018 across metropolitan commercial radio stations.
The Deloitte figures report actual revenue received and include all metropolitan agency and direct revenue. They are released quarterly, with the next due in July.
Yes, this rings true, but the quality of radio ads has fallen in recent years, it is time to concentrate upon better production techniques and creative use of radio. Radio is an area which has been underestimated for some time.
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