Advertising revenue for commercial metropolitan radio has jumped by 72.6% in May to reach $59.605 million.
This is an increase from $34.534 million a year ago, when the industry was hit by the pandemic, according to data compiled by Deloitte and released by industry body Commercial Radio Australia (CRA).
“It’s enormously encouraging to see advertisers returning to radio in full force after a challenging 12 months,” says CRA CEO Joan Warner.
“The industry is seeing robust activity from national advertisers and we anticipate the recovery in the SME market will continue to build in the coming months and into the busy Christmas season.
“Most major advertiser categories have recovered well and it is expected that with the new fiscal year, a fresh investment cycle is highly likely.”
In May, Victoria, the largest radio market, was up by 74.5% to $20.028 million compared to the same period a year ago, while NSW stations enjoyed a 71.2% increase to $17.685 million.
Queensland stations rose 77.6% to $8.965 million, WA was up 73.2% to $7.470 million and South Australia climbed 62.1% to $5.457 million.
The results follow a 51.9% year-on-year increase in ad revenue in the month of April to $51.636 million.
The revenue figures cover the five major capital city markets and include agency and direct ad revenue.
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