Metro radio ad revenue increased in the June quarter, according to figures released by Commercial Radio & Audio (CRA), which for the first time includes both Broadcast Radio and Digital Audio ad revenue.
Total metro ad revenue (broadcast plus digital) was up 2.6% to $200.7 million compared to the same time last year.
The numbers are a rebound from the 5.8% drop to $146.754 million in the March quarter.
Metro revenue broadcast only for Q2 2024 was $178.172 million, up 0.1% on Q2 2023, while digital audio revenue increased by 27.1%.
The latest SMI numbers for May show radio's total bookings back just 0.7%.
CRA chief commercial officer, Jo Dick, said the results were extremely positive after a challenging start to 2024.
“Market conditions are tough right now – but radio is once again showing that it is resilient, reliable, and the best bang-for-buck when advertising budgets are tight," she said.
“The data also shows us that for the first six months of 2024 total radio ad revenue, including both broadcast and digital, remains steady, up 0.2% on the first half of 2023."
The quarterly broadcast radio ad revenue figures were compiled by media data analytics company Milton Data for CRA.
CRA digital audio ad revenue figures are included in the Australian Online Advertising Expenditure Report (OAER), compiled by PwC and released by IAB Australia.
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