Commercial radio metropolitan ad revenue continues to track slightly below 2022 figures, with metropolitan March monthly ad revenue down 2.0 per cent compared to March 2022.
First quarter metropolitan ad revenue is down 1.6 per cent compared to 2022, according to figures released by industry body Commercial Radio and Audio. Monthly ad revenue across Australia’s five major metropolitan markets totalled $62.746 million in March, compared to $64.034 million a year ago. First quarter 2023 revenue was $155.825 million, compared to 2022’s $158.37 million.
Quarterly metro ad revenue is up 1.6 per cent from 2021’s $153.418 million. “Australians have been hit with increased interest rates and tightening purse strings. This, and the significant reduction in government advertising spending, has resulted in a tough advertising market for most. Commercial radio has not been immune to this,” Ford Ennals, CEO of CRA said.
“Radio advertising continues to offer bang-for-buck, with figures for direct spending by networks remaining resilient and overall spending tracking roughly in-line over the past three years. This has included strong investment in radio in March by advertisers in the auto and supermarket/convenience store segments.”
The Perth and Sydney markets were most resilient year on year. Perth monthly revenue was up 2.3 per cent year on year and Sydney is up 0.4 per cent for the first quarter.
A breakdown by of the five major metro markets showed year on year March ad revenue at:
- Perth stations up 2.3 per cent to $7,923 million
- Sydney stations decreased 0.2 per cent to $19.647 million
- Melbourne stations down 3.2 per cent to $20.641 million
- Brisbane stations down 4 per cent to $9.269 million
- Adelaide stations fell 6.4 per cent to $5.266 million.
The metropolitan radio advertising revenue numbers exclude radio station digital audio revenue from radio streaming and podcasts. The digital audio market continues to grow with the combined digital streaming and podcast market now accounting for $221.2 million of revenue in 2022 according to figures announced for the first time in an industry collaboration between CRA and IAB Australia. The March monthly ad revenue figures include agency and direct ad revenue and were compiled by media data analytics company Milton Data.
