Revenue spikes in August
Metropolitan commercial radio stations have registered their seventh consecutive month of growth in advertising revenue in August.
Driven by strong election spending, total revenue reached $61.2m, an improvement of 5.6% on the same period in 2012.
By market, Melbourne reported the largest increase, up 10.2% to $18.8m, Perth rose 8.0% to $8.5m, Adelaide improved 5.6% to $5.7m, Sydney up 2.8% to $18.9m and Brisbane was up slightly by 0.9% to $9.2m.
Joan Warner, the CEO of CRA commented;
“Metropolitan commercial radio has achieved positive revenue growth for the last seven months with the Federal election contributing to an excellent August result.”
“The radio industry continues to perform notwithstanding uncertain economic conditions"
The figures for the first two months of FY14 are up in all markets with Melbourne leading the way. The Deloitte figures report actual revenue received by metropolitan commercial radio stations for the calendar month and include all metropolitan agency and direct revenue.