The commercial radio industry contributes $1 billion to the nation’s annual GDP, including a $320 million boost to regional Australia, according to a report by Deloitte,
The 'Connecting Communities: The Economic and Social Contribution of Commercial Radio and Audio in Australia' report was commissioned by industry body Commercial Radio & Audio (CRA) and produced by Deloitte Access Economics.
Commercial radio stations broadcast 1.1 million hours of Australian content, 2.7 million Australian songs, 42,000 hours of news and 2,200 hours of emergency service content in 2022, the study found.
The industry supports 6,600 full-time equivalent jobs with 38% of jobs located in regional Australia.
Seventeen million Australians listen to commercial radio; 74% believe radio and audio build a sense of community and 58% have listened to hear emergency broadcasts.
CRA CEO Ford Ennals said the Connecting Communities report is the first time in 100 years of broadcasting that the radio industry have evaluated the economic contribution of radio and its role in delivering trusted, local content to listeners all over the country.
"These figures show how important it is to have a sustainable Australian radio industry that delivers great audio content free of charge to everyone, everywhere," he said.
CRA chair and CEO of ARN Media, Ciaran Davis, said radio has had an enormous influence in shaping modern Australia, providing a platform for debate and launching the careers of many successful Australian entertainers, music artists and journalists.
“The industry creates an enormous quantity of local audio content with 1.1 million hours of programs across broadcast, streaming and podcasts," he said.
"It also remains the lifeblood of regional media, producing 251,000 hours of locally significant regional content in areas where other local media have disappeared.”
Commercial radio networks also made $82 million in charitable contributions through donations and airtime in 2022.
Deloitte partner John O’Mahony said Deloitte Access Economics analysis shows the commercial radio and audio sector contributed supported 6,600 FTE jobs in 2022, based on data provided by nine networks.
"Beyond commercial radio’s economic contribution, our research shows Australians recognise the value of commercial radio in helping to build a sense of community, being a trusted source of news in times of crisis, and part of a thriving Australian music ecosystem," he said.
The study was launched at an event at Parliament House in Canberra today, hosted by 3AW breakfast presenter Russel Howcroft, with Federal Communications minister Michelle Rowland cutting a cake in honour of radio’s 100th birthday. MIX 106.3’s breakfast host Kristen Davidson also took part in the event.
Centenary celebrations will continue at the 2023 Commercial Radio & Audio Awards to be held in Sydney on Saturday, October 14.
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