“Patchy” radio ad revenue numbers elevate push for media reform
Figures released Friday by Commercial Radio Australia reveal that radio revenue for metropolitan markets was flat for the last financial year ended June 30.
Compared to FY16, total advertising revenue – as sourced by Deloitte – was down 0.21% to $773.849 across the five Australian metropolitan markets.
Individual market breakdown:
CRA boss Joan Warner pointed to the country’s outdated media laws as a contributing factor to the “patchy” results.
“While radio is continuing to maintain a solid revenue base in comparison to other traditional media, the industry is feeling the impact of stifling regulation that was developed pre-internet,” Warner said.
“We need to modernise Australia’s outdated media laws to allow radio stations to compete on a level playing field for advertising dollars.”
The radio industry is a firm proponent of the recently proposed Federal Government broadcast and media reform package to modernise Australia’s media regulatory landscape. A month ago, media executives from commercial and subscription TV, newspaper and radio companies met in Canberra to lobby Parliament to incite change, including the removal of broadcasting licensing fees and repealing two-of-three ownership laws.
“Our radio stations are Australian owned and run, producing live, local news and entertainment,” Warner continued.
“Our members employ thousands of people across the country and yet members of Parliament won’t pass media reform that would allow us to compete more effectively against multinational internet giants.”