Australian commercial radio is proving its resilience, with the metro ad revenue increasing in the second quarter of 2024, according to new figures released by Commercial Radio & Audio (CRA) which for the first time include both Broadcast Radio and Digital Audio ad revenue.
Total metro ad revenue (broadcast plus digital) in Q2 2024 was up 2.6 per cent to $200.7 million, compared to the same time last year. Q2 2024 Metro revenue broadcast only was $178.172 million, up 0.1 per cent on Q2 2023, while digital audio revenue increased by 27.1 per cent.
“Market conditions are tough right now – but radio is once again showing that it is resilient, reliable, and the best bang-for-buck when advertising budgets are tight,” said Jo Dick, CRA chief commercial officer.
“We are seeing incredibly strong growth for digital audio ad revenue, up 27.1 per cent in Q2 2024 – which really highlights that one of radio’s greatest strengths is adapting with changing listening habits and embracing new technologies”.
“The data also shows us that for the first six months of 2024 total radio ad revenue, including both broadcast and digital, remains steady, up 0.2 per cent on the first half of 2023,” said Dick.
Media data analytics company Milton Data compiled the quarterly broadcast radio ad revenue figures for CRA.
CRA has previously only released metro ad revenue figures for Broadcast Radio, not Digital Audio. CRA digital audio ad revenue figures are included in the Australian Online Advertising Expenditure Report (OAER), compiled by PwC and released by IAB Australia.
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