Ad revenue for the commercial radio stations has increased by 12.64 per cent to $61.907 million during February, according to figures from Deloitte.
We’re still a few months off the full financial year, but the numbers show the radio industry is already up 5.58 per cent from the same time the year prior.
The Melbourne market currently has the highest ad revenue at $18.964 million, with Sydney not far behind at $18.780 million. From the time last year, the markets were up 13.52 per cent and 10.58 per cent respectively.
The other markets also posed double digit percentage growths. Brisbane was up 13.90 per cent to $9.651 million. Adelaide was up 16.81 per cent to $5.595 million. Perth too increased by 11.36 per cent to $8.917 million.
“February was a good month for commercial radio, with stations reporting double digit increases in ad revenue across all five capital city markets,” said Joan Warner, CEO of industry body Commercial Radio Australia (CRA).
Warner was unsurprisingly pleased with the results, saying it reflected an increased recognition radio advertising delivers.