Metropolitan March monthly ad revenue is down 2.0% compared to March 2022, and first quarter metropolitan ad revenue is down 1.6% compared to 2022, according to figures released by industry body Commercial Radio and Audio (CRA).
Monthly ad revenue across Australia’s five major metropolitan markets totalled $62.746 million in March, compared to $64.034 million a year ago. First quarter 2023 revenue was $155.825 million, compared to 2022’s $158.37 million.
The Perth and Sydney markets were most resilient year on year - Perth monthly revenue was up 2.3% year on year and Sydney is up 0.4% for the first quarter.
Ford Ennals, CEO of CRA, said Australians have been hit with increased interest rates and tightening purse strings, which, combined with a significant reduction in government advertising spending, has resulted in a tough advertising market, including for commercial radio.
“Radio advertising continues to offer bang-for-buck, with figures for direct spending by networks remaining resilient and overall spending tracking roughly in-line over the past three years," said Ennals.
"This has included strong investment in radio in March by advertisers in the auto and supermarket/convenience store segments.”
A breakdown of the five major metro markets showed year on year March ad revenue at Perth stations up 2.3% to $7,923 million; Sydney stations decreased 0.2% to $19.647 million; Melbourne stations down 3.2% to $20.641 million; Brisbane stations down 4% to $9.269 million and Adelaide stations fell 6.4% to $5.266 million.
The metropolitan radio advertising revenue numbers exclude radio station digital audio revenue from radio streaming and podcasts. The March monthly ad revenue figures include agency and direct ad revenue and were compiled by media data analytics company Milton Data.
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