Sydney, Australia – Despite the greater existence of other media channels, radio stations located across metropolitan areas in Australia have shown a 72.6% increase in their ad revenue last May, amounting to AU$59.6m compared to AU$34.5m last year, new findings from Commercial Radio Australia (CRA) and Deloitte shows.
According to the data, the state of Victoria, the largest radio market, was up by 74.5% to AU$20m compared to the same period a year ago, while New South Wales stations enjoyed a 71.2% increase to AU$17.7m. Queensland stations rose 77.6% to AU$9m, Western Australia was up 73.2% to AU$7.5m and South Australia climbed 62.1% to AU$5.5m.
The results follow a 51.9% year on year increase in ad revenue in the month of April to AU$51.6m.
The metropolitan revenue figures compiled by Deloitte report on revenue received by metropolitan commercial radio stations in the five major capital city markets and include agency and direct ad revenue.
The rise reflects a strong rebound for radio from the depths of the COVID-19 slump, as advertisers returned to the market.
This statement is backed by Joan Warner, chief executive officer of CRA, who stated that it is enormously encouraging to see advertisers returning to radio in full force after a challenging 12 months.
“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,” Warner stated.
She added, “Most major advertiser categories have recovered well and it is expected that with the new fiscal year, a fresh investment cycle is highly likely.”