Radio Advertising Up More Than 5%
The Australian Metro radio advertising market has grown by more than 5 % for the first half of the year. The metro radio advertising market grew by 5.03% to $374 million.
Radio’s CEO’s from the major metro networks talked about the recent growth, rejuvenation and a renaissance in radio in the Australian Financial Review.
In the past during tough economic times, radio has always fared well, with the medium being cheap, cost effective quick and easy for advertisers.
There’s also a number of contributing factors such as expanded media coverage of radio recently, higher profile talent and product offerings, the launch of new shows and new brands into the market. There has been something new for radio to talk about, it’s getting noticed more, its cutting though. It’s a content led recovery.
If radio continues to deliver and improve its content offering it will remain relevant and resonate with both listeners and advertisers in the face of increased media competition.
The challenge remains for radio to continue to grow its overall share of ad revenue. One thing is for certain though the growth over the past 6 months shows how resilient and strong radio is despite the growth of digital media.