Advertising revenue for metropolitan commercial radio reached $153.418 million in the March quarter, down 3.76% compared to the same period a year ago.
The results, compiled by Deloitte and released by Commercial Radio Australia (CRA), represent a slight improvement for the sector which was hit hard by the pandemic last year.
Victoria, the largest radio market, fell 0.12% year-on-year to $52.157 million in revenue for the March quarter.
NSW reported a 5.06% fall in ad revenue to $44.963 million.
Queensland was down 9.10% to $23.017 million, Western Australia fell by 0.34% to $19.752 million, and South Australia by 7.87% to $13.529 million.
“The figures are moving in the right direction and we’re hopeful momentum will build through the year as small business confidence grows and we see them coming back into the market and utilising the reach of radio,” says CRA CEO Joan Warner.
The results cover the five major capital city markets and include agency and direct ad revenue.
For the nine months of the financial year to date, metropolitan ad revenue was down 14.48% to $452.345 million.
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