Radio Ad Revenue Sees Impressive Rise As Data Shows The Extent Of COVID’s Impact
Ad revenue for metropolitan commercial stations for June showed a rise of 40.9 per cent according to Commercial Radio Australia.
The data reveals that in June, revenue reached $64.190 million, while June quarter revenue was at $175.431 million. That is a staggering rise of 53.8 per cent from the corresponding quarter last year, revealing just how far radio has bounced back from the trials of 2020, even as Sydney and Melbourne continue their lockdowns.
This quarter lifted the financial year result to $627.776 million, down 2.4 per cent compared to ra$643.046 million in 2019/20.
Joan Warner, the CRA’s CEO said in a statement that the current lockdowns would have some impact on advertising revenue, but that generally, conditions were more positive than 2020.
“Advertising spend had rebounded strongly before the current lockdowns. Some caution has crept into the market due to uncertainty about how long the restrictions will last, but the longer term economic indicators remain positive. Some businesses are also more prepared this time around to manage through the disruption.”
Though Victorian stations saw a lockdown in the first half of June, the still generated $20.217 million in ad revenue that month. That is an increase of 36 per cent from June 2020.
In the other states, NSW stations achieved a 46 percent rise to $19.670 million in June while Western Australia was up by 37 per cent to $8.321 million and South Australia climbed 31 per cent to $5.739 million.
Queensland was the strongest performer, with revenue up 51 per cent in June to $10.244 million.
All markets returned strong growth in the June quarter. Queensland led the pace up 61 per cent year on year to $27.210, followed by NSW up 56 per cent to $53.131 million, and Victoria up 52 per cent to $56.751 million.
Western Australian revenues grew by 51 per cent to $22.358 million and South Australia by 44 per cent with $15.982 million.
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