Melbourne has led the way in metro commercial radio station ad revenue growth, witnessing a year-on-year (YoY) increase in September by 27% to $21.1 million, according to figures from Commercial Radio & Audio (CRA).
The latest survey saw ad revenue for metropolitan commercial radio stations grow by 18% to $62.71 million in the month of September compared to $53.14 million a year ago. This marks the 19th successive month of YoY growth.
While Melbourne grew the most in capitals, Sydney stations saw the biggest jump in percentage with a 34% increase to $18.83 million.
Revenue for Brisbane stations was up 1.5% to $9.25 million, Adelaide was down 0.2% to $5.55 million and Perth was up 2.4% to $7.96 million.
The results follow a 12% increase in ad revenue in the month of August and weekly commercial radio audiences hitting a record high of 12.1 million in the most recent GfK radio survey 6.
September quarter revenue totalled $167.11 million, 10% higher than the same quarter a year ago.
CRA chief executive officer Ford Ennals said revenues were now close to levels recorded before the pandemic.
“Categories like live entertainment and travel, which were impacted last year by Covid, have come back strongly this year and the market remains buoyant heading into the peak retail season.
“Commercial radio advertising has real and sustained momentum which has seen a strong recovery back to pre-pandemic levels of revenue and in some major markets are setting new record revenue levels.”