Radio revenues skyrocket 72.6% to reach $59.605 million in May
Commercial radio’s year-on-year revenue in May saw a massive spike, up from $34.534 to reach $59.605 million, a 72.6% increase.
The figures, compiled by Deloitte and released by Commercial Radio Australia (CRA), are clear indication that advertisers have returned to the medium after a tough 2020, according to CRA chief Joan Warner.
“It’s enormously encouraging to see advertisers returning to radio in full force after a challenging 12 months,” she said.
CRA CEO Joan Warner
The significant jump is reflective of how much radio ad revenue fell in May of 2020, and is in line with SMI’s recent ad spend trends that showed significant recovery for radio the month of April.
CRA’s figures are compiled across the five metro markets, and include agency and direct ad revenue.
Breaking down each capital city, Queensland enjoyed the biggest ad revenue increase as a percentage figure, up 77.6% to $8.965 million.
Victoria, Australia’s largest radio market, enjoyed the biggest increase in actual revenue, up 74.5% to $20.028 million year-on-year, while NSW was up 71.2% to $17.685 million.
Western Australia was up 73.2% to $7.47 million and South Australia grew by 62.1% to $5.457 million.
Warner added: “The industry is seeing robust activity from national advertisers and we anticipate the recovery in the SME market will continue to build in the coming months and into the busy Christmas season.
“Most major advertiser categories have recovered well and it is expected that with the new fiscal year, a fresh investment cycle is highly likely.”
The latest results follow radio ad revenue for the month of April increasing 51.9%, to $51.636 million.
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Zanda Wilson was a reporter and podcast producer at Mumbrella, specialising in radio reporting. He left Mumbrella in September 2021.
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