Advertising revenue for metropolitan commercial radio fell by more than 20% for the 2019/20 financial year, according to Deloitte data.
Industry body Commercial Radio Australia (CRA) released the figures showing that revenue reached $643.046 million for the year, down 20.34% from the $807.701 million recorded in the previous year.
All five major capitals experienced declines in advertising revenue in the 12 months to June 30, with Perth radio stations sliding the most, down 22.37% to $80.25 million.
Meanwhile, the Sydney market fell by 21.97% to $193.57 million and Melbourne by 20.13% to $209.71 million. Brisbane’s radio advertising revenue fell to $101.36 million, down by 18.34% and Adelaide’s by 16.41% to $58.16 million.
“These results reflect the ongoing challenges resulting from COVID-19 and the flow-on effects that have been widely reported as impacting all local media sectors,” says CRA CEO Joan Warner.
“Commercial radio stations are operating at a time of global crisis and providing an ongoing and vital service to communities across the country, but unfortunately strong growth in listener numbers has not as yet converted into increased ad revenue.
“We know that radio’s resiliency is matched by its influence and we will carry on working with our members to communicate the value of utilising radio advertising in these difficult times, so advertisers can continue to access radio’s live and local positioning to enhance the reach and power of their messaging."
Advertising revenue for the June quarter was down 46.62% to $114.104 million, compared to $213.748 million in the same period last year.
The Melbourne market was down 46.57% to $37.26 million in the June quarter, Sydney was down 48.45% to $34.04 million and Brisbane decreased by 48.48% to $16.93 million. Perth radio stations reported $14.81 million in ad revenue, down 43.87%, while revenue for Adelaide stations was 40.92% lower at $11.065 million.
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