Radio advertising spend by media agencies up 11.1%

Media agency spending in Australian radio experienced strong growth in May, despite advertising spend falling across the country overall.

Standard Media Index‘s tracking of agency spending on behalf of clients reported growth of 11.1% for radio up from the same month last year.

The only medium to experience bigger growth in the same period was cinema (+16.9%).

SMI estimates suggest that clients spent $623.9 million in the month of May, with digital (+6.5%) and ad-supported TV streaming (+3.4%) the other mediums to experience growth.

In contrast, magazine spend was down 29.8%, newspapers lost 5.2% and TV fell 2.5%.

SMI also said that ad spend over the course of the financial year to May was up 3.7% overall to a record $6.68 billion.