Revenues at metropolitan commercial radio stations rose by 7.5% last year to $644.5m, with Perth the strongest performing market with growth of 20% on the previous year.
Figures from PricewaterhouseCoopers Radio Revenue Performance figures show that revenues in Perth hit $78.1m in 2007. Brisbane was the second best performing market, up 10% to $101.2m, while Adelaide hit $60.4m, up 6.8%. The Melbourne market was up 6.5% to $181.3m and 2007 was a better year than the previous 12 months for Sydney stations with revenues up 3.4% to $223.4m.
Joan Warner, CEO of Commercial Radio Australia said: “The industry has performed well in 2007 and surpassed forecast growth predictions – helped by the federal election and a strong economy in the west. This is a good result and highlights a strong performance in 2007 compared to the previous year when radio revenue grew only 1.4%.
Warner warned the radio industry needed to continue innovation in developing new ways of attractive ad revenues. “The link between radio and online presents significant opportunities for commercial radio stations this year as does the launch of digital radio early next year,” she added.
The average cumulative audience of commercial radio in 2007 was 8.74m – 77% of all people listening each week, and increase of 79,000 from 2006.
On average, Australians spent 17 hours and 17 minutes a week listening to commercial radio, or 2 hours and 28 minutes per day. People in Adelaide topped the list for average time spent listening each day, 2 hours, 37 minutes, followed by Melbourne which was four minutes less than Adelaide and Perth at 2 hours and 27 minutes.
Breakfast remains the most listened to timeslot of the day with an average of 6.7m listeners a week compared to 6.6m in 2006.
Meanwhile with the start of the 2008 radio ratings year underway, Sydney’s number two commercial FM station, Nova 969, has launched a new marketing campaign promoting its latest recruit, former Home and Away star Kate Ritchie.
Gold Logie winner Ritchie, who started on Nova’s Sydney breakfast show this morning alongside regular presenters Merrick & Rosso, will feature in a new advertising campaign developed by the radio station in conjunction with Host and The Glue Society.
The TVCs features Ritchie moving in with Merrick & Rosso and will be supported by print and outdoor ads. To view the TVC click here http://www.nova969.com.au/site/shows/merrick_rosso_kate_ritchie.aspx.
