Metro radio reports 5% ad revenue increase for 2022

Australia’s metropolitan commercial radio networks reported a five percent increase in advertising revenue in 2022.

According to figures released today by Commercial Radio & Audio (CRA), the total sum reached $701.4 million in 2022 compared to $665.6 million in 2021.

Melbourne stations led the revenue gains with 8.1% growth in 2022, while Sydney increased by 7.7%. 

Perth rose 2.2%, Adelaide 1.8% and Brisbane lagged with 0.1%.

CRA chief executive officer Ford Ennals said the industry had rebounded well from the impacts of Covid over the past two years, but radio had not yet fully recovered from 2019 pre-pandemic levels.   

“Radio has benefited from strength across a broad range of business sectors and the return to cars, with revenue ending the calendar year five percent higher than 2021 and 23% above levels in 2020,” said Ennals.

“We are moving closer to a full recovery and while we have seen some caution among advertisers in December, we believe radio will continue to do well in 2023 due to the success of broadcasters in attracting new listeners and maintaining audiences at a record high across broadcast and streaming. Forward bookings for the March quarter are looking solid.” 

In December, ad revenue declined by 6% year on year to $52.6 million and remains 2% below the levels of December 2019.

Melbourne’s revenue was 7% lower to $17.1 million in December versus the same month a year ago and Sydney was down 5% to $15.2 million. 

Brisbane was down by 7% to $8.3 million, Adelaide was 2% lower to $4.7 million and Perth declined by 6% to $7.2 million.

The revenue figures were compiled by Milton Data.