Credit: Will Francis via Unsplash
Radio revenue fell 4% to $273.1 million in the September quarter, as a weaker advertising market dragged on broadcast spending, according to Commercial Radio & Audio (CRA).
Metro revenue fell 5% to $156.7 million and regional dropped 6% to $89.8 million.
Digital audio rose 12.1% to $26.7 million, outperforming the broader digital market, which grew 3.5%.
CRA’s share of the $82 million digital audio sector increased to 33% from 30% a year earlier, according to the IAB Australia Internet Advertising Revenue Report.
Lizzie Young, CEO of Commercial Radio & Audio, said the lift in digital showed the company’s long term strategy was working.
"The advertising market has been challenging, but the digital audio growth we're seeing validates our long-term strategy,” she said.
“Advertisers want efficiency and accountability. They need simplified access to premium inventory that delivers effective outcomes.
“That's exactly what we've built.”
Young pointed to last month’s rollout of CRA Audio ID across ARN, Nine, Nova Entertainment and Southern Cross Austereo.
"The launch of CRA Audio ID in November is tangible evidence on how we’re delivering on that need, a unified cross-network identity solution enabling brands to plan, buy and optimise premium digital inventory across ARN, Nine, Nova Entertainment and Southern Cross Austereo in one simplified workflow,” she said.
Young said current budget pressure made effective channels more valuable.
“It's also why our Power of Audio campaign matters now more than ever,” she said.
“When budgets are under pressure, we know for a fact that audio delivers, research shows just 11% of media spend allocated to radio can double campaign effectiveness, coupled with creative fluency brands can even double the double.
“For brands navigating uncertainty, that's not a nice-to-have, it's a competitive advantage.”
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