Total radio revenue fell 1.9% to $257 million in the March quarter, reflecting a soft advertising market.
Industry numbers, compiled by media analytics firm Milton Data for industry body Commercial Radio & Audio (CRA), show metro broadcast revenue down 3.5% to $141.8 million and regional revenue at $90 million, down 2.4%.
CRA said the numbers reflect soft market conditions and a subdued advertising environment driven by escalating geopolitical instability and weakened consumer confidence.
Digital audio revenue grew 9.9% to $25.2 million, versus the broader digital audio market which grew 8.3% to $83.6 million.
CRA members hold 30% of the digital audio market, according to the March quarter IAB Australia Internet Advertising Revenue Report.
"Our entire industry is focused on making audio easy to plan and buy, ensuring we invest in the tools that deliver the precision, transparency and scale advertisers expect of digital media,” said Lizzie Young, chief executive officer at CRA.
“CRA Audio ID is live and trading - enabling brands to optimise reach and frequency through access to premium inventory across ARN, Nova Entertainment, Southern Cross Austereo and Tapt Media.
"We know when budgets are under pressure, audio consistently delivers.
“For every dollar invested in radio, brands see two dollars back. Allocating just 11% of media spend to audio can double campaign effectiveness.
“Outside of the capital cities, campaigns with regional audio can unlock 33% more effectiveness than those without it.
“When times are uncertain, people turn to what they trust. For millions of Australians, that's audio - and it's a medium advertisers can count on too."
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.