Commercial radio metropolitan ad revenue in February was down just 0.7% compared to the same month last year, according to figures released by industry body Commercial Radio and Audio.
Monthly ad revenue across Australia’s five major metropolitan markets totaled $51.268 million in February, compared to $51.638 million a year ago.
This followed a fall of 2.1% to $41.811 million in January.
Ford Ennals, CEO of CRA, said: “The green shoots of confidence in radio advertising are supported by February’s numbers with monthly ad revenue returning to where we were in 2021 and on par with the 2022 February revenue in four out of five markets.
“We see solid demand for radio advertising, led by increases in spend for the supermarket, automotive and travel categories which more than offset the reduction in government spending versus last year. The trend is a return to confidence in the radio ad market,”
Sydney stations reported an increase of 0.4% year on year to $15,215 million. Perth stations were up 0.5% to $6,615 million.
Melbourne stations were slightly down 0.6% to $17,322 million. Brisbane stations were down 0.2% to $7,828 million. Adelaide stations’ monthly revenue was down 7.2% to $4,288 million, compared to the same time last year.
The metropolitan radio advertising revenue numbers exclude radio station digital audio revenue from radio streaming and podcasts.
The digital audio market continues to grow with the combined digital streaming and podcast market now accounting for $221.2 million of revenue in 2022 according to figures announced for the first time in an industry collaboration between CRA and IAB Australia.
Ennals said: “Digital audio is one of the most significant growth markets in Australia media.PwC have confirmed that they expect to see strong digital audio advertising growth in 2023 as more and more businesses and agencies invest in these highly targeted and effective mediums.
“Radio advertising, whether live, on demand or digital, remains an essential choice in times of economic uncertainty."
The February monthly ad revenue figures include agency and direct ad revenue and were compiled by media data analytics company Milton Data.
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