Radio revenue grows in FY14
The Commercial Radio industry has recorded growth in advertising, in the metropolitan markets, of 2% for the 2014 financial year.
The figures, sourced by Deloitte and released by CRA this afternoon, show a strong end to the year with the June month seeing an overall increase of 7.3% across the country. All markets were up in June, however on an FY basis Adelaide fell slightly.
For FY14, total revenue grew to $697m for the five metropolitan markets with Perth leading the way, growing by 4.4% to $98.86m. Sydney improved by 2.3% to $214.77m, narrowly ahead of Melbourne on $2.11.09m up by 1.7%. Brisbane improved 1.3% to $108.61, whilst Adelaide fell marginally by 0.6% to $63.79m.
Joan Warner, the CEO of CRA commented;
“An outstanding June result showed radio is a cost effective and quick to market option for advertisers looking to capitalise on the last of their financial year budgets.”
The figures are for metropolitan stations only, regional radio figures will be released next month.