Radio’s recovery leaves FY20/21 revenues down just 2.4% on FY19/20
Commercial radio’s continued growth saw revenues lift 40.9% to $64.19 million year-on-year in the month of June, and left revenues for the full financial year 2020/21 only 2.4% below the prior financial year.
As reported by Deloitte and industry body Commercial Radio Australia (CRA), advertising revenue across metro commercial radio stations for FY20/21 was $627.776 million, just a tick below FY 19/20 with $643.046 million.
In addition, CRA reported that revenue for the June quarter hit $175.431 million, up a significant 53.8% on the corresponding quarter, during which Australia’s wide-reaching lockdowns were in full force.
CRA chief executive officer Joan Warner anticipated that the current lockdowns will have some impact on ad revenue, but not in the same vicinity as the impact of 2020’s lockdowns.
“Advertising spend had rebounded strongly before the current lockdowns. Some caution has crept into the market due to uncertainty about how long the restrictions will last, but the longer term economic indicators remain positive,” she said.
Despite being in lockdown for the first half of June, ad revenue in Victoria was up 36% year-on-year to $20.217 million.
Over the month, NSW recorded a 46% rise to $19.67 million, with Queensland revenue up 51% to $10.244 million, Western Australia grew revenue 37% to $8.321 million and South Australia climbed 31% to $5.739 million.
“Some businesses are also more prepared this time around to manage through the disruption. As we’ve seen through previous lockdowns, radio remains highly relevant when people need news and information,” Warner added.
Looking at each market for the quarter ending June, Queensland was up a massive 61% year on year to $27.210, followed by NSW up 56% to $53.131 million.
Victoria was up 52% to $56.751 million, while Western Australian revenues grew by 51% to $22.358 million and South Australia was 44% higher at $15.982 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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