The commercial radio market scored a strong result last month, with revenue up 4.6% year-on-year to almost $60 million for the five metropolitan markets.
According to figures released by Commercial Radio Australia (CRA) all five markets recorded growth in March.
Melbourne can boast growth of 7.8% to a total of $18.2 million for the month, while Perth was up 5.8% to $8.4 million. Adelaide was up 3.8% to $5.5 million, and Sydney was up 3.3% to just over $18 million, while Brisbane recorded one per cent growth to $9.8 million.
Joan Warner, chief executive officer of Commercial Radio Australia, said the March figures were in line with recent economic figures released last week, which shpwed better than expected growth.
"Radio revenue recorded a small rise last month, and coupled with these latest figures, is good news for the industry – particularly the Sydney market,” said Warner. “However the market continues to be patchy with some markets stronger than others.”
The Metropolitan Commercial Radio Advertising Revenue figures for the nine months of the financial year ending March 2013 showed a fall of 1.02% to a total of $502 million for the five metropolitan markets.
The CRA revenue figures are sourced by Deloitte and include all direct and agency revenue.