Radio revenue climbs 19.3% in July
Commercial radio revenue for the month of July was $48.571 million, up 19.3% from July 2020’s $40.724.
Previously, Commercial Radio Australia (CRA) released the figures on a quarterly basis, so it’s not possible to draw comparisons between today’s figure and the pre-pandemic July 2019.
Comparing July 2020 and July 2021, Melbourne had the most stark increase, climbing 30% year-on-year to $16.408 million. Brisbane had the second-largest increase, up 21.6% to $7.654 million, while Perth was up 18.4% to $6.296 million. Sydney, meanwhile climbed 11.3% to $13.874 million and Adelaide increased 8.2% to $4.339 million.
CRA said this follows year-on-year increases for May of 72.6% and June of 40.9%.
For the most recent financial year (July 1, 2020 to June 30, 2021), revenue was $627.776 million, a decline of 2.4% year-on-year, but down 22.28% on the pre-pandemic 2019 financial year.
CRA launched the ‘We’re All Ears’ marketing campaign on July 9, aimed at driving growth in SME radio advertising.
CRA CEO, Joan Warner, said: “The extension of lockdowns has taken some momentum out of the recovery but it’s encouraging to see growth for radio being sustained at a double-digit level.”