Commercial radio revenue up, listening hits all time high
“This is a powerful message to advertisers that commercial radio listening is on the rise and more popular with audiences than ever.”
That observation from Commercial Radio Australia CEO Ford Ennals, after commercial radio revenue increased in the March 2022 quarter, while Australian audiences in the major metros reached a record high, with 11.6 million listeners tuning in each week.
According to data compiled by Milton Data and released by CRA, advertising revenue for metropolitan commercial radio stations increased 3.2% in the March 2022 quarter, totalling $158.347 million.
GfK radio survey two – which covered radio audiences from February to April in the major metros – saw commercial radio listening hit a new record number of listeners nationally to 11.6 million per week, up 2.5 % on the same period last year.
Mr Ennals says “It’s great to see the strong bounce back of radio with commercial radio leading the way, achieving both record radio listening levels and steady revenue growth.”
Sydney’s revenue was up 5.1% year on year to $47.271 million in the March quarter.
Adelaide revenues grew by 3.8% to $14.041 million.
Brisbane was up 3.1% to $23.740 million.
Perth rose 2.6% to $20.269 million.
Melbourne was 1.7% higher at $53.026 million.
Mr Ennals says the monthly revenue numbers in March were also up 24% from February.
March monthly results saw the five major Australian capital city markets record a 4.6% rise compared to the same month the previous year. Ad revenue totalled just over $64.034 million compared to $61.325 million in March 2021.
Adelaide stations recorded a 5.6% rise compared with March last year, generating $5.625 million in ad revenue.
Brisbane climbed 5.4% to $9.651 million.
Melbourne was up 5.3% to $21.318 million.
Sydney’s revenue was up 4.6%, generating $19.694 million in revenue.
Perth saw some growth with a 0.8% rise, recording $7.74 million in ad revenue.