Metropolitan commercial radio stations recorded advertising revenue of $685.961 million for the financial year ended June 30, steady with the previous year’s $685.995 million, according to industry body Commercial Radio & Audio.
Sydney was the strongest performing market, with ad revenue increasing 2% to $205.460 million, followed by Melbourne, up 1% to $227.335 million.
Brisbane ($104.352 million) and Adelaide ($60.430 million) finished the year 2% lower. Perth fell 3% to $88.384 million.
CRA will begin to include digital audio ad revenue figures in its metro radio revenue reports from the September quarter.
The industry ad revenue figures include agency and direct ad revenue and are compiled by media data analytics company Milton Data.
CRA CEO Ford Ennals said radio had a strong start to the financial year, but the market has been softer in the second half in line with conditions in the broader macroeconomic environment.
“Growth in broadcast revenue ended flat with the previous year, but we are continuing to see very strong growth in digital audio advertising, which is not yet included in these figures," he said.
“Podcasts and streaming remain areas of opportunity for the industry, particularly with the enhanced data capability under the new Radio 360 audience measurement system launched last month.
"This shows commercial radio has a weekly radio streaming audience of 3.3 million listeners and growing.”
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