Commercial radio ad revenue remained in positive territory in the month of October with revenue up 6.1% compared to October 2020, according to data released by industry body Commercial Radio Australia.
Ad revenue for the five major Australian capital city markets totalled $59.064 million in October compared to $55.671 million a year ago.
“Roy Morgan Business Confidence saw the biggest increase in October so far for 2021 and this is reflected in the continued monthly year on year growth in radio ad revenues. The figures demonstrate that advertisers are increasingly confident as Sydney and Melbourne re-open,” said Joan Warner, chief executive officer of CRA.
Sydney stations reported a 4% year on year increase in ad revenue to $17.875 million in the month of October, while Melbourne stations were 9.4% higher at $17.602 million. Brisbane was up 2.4% to $9.715 million, Adelaide rose 1.5% to $5.600 million, and Perth stations increased 11.8 % to $8.272 million.
The figures include agency and direct ad revenue and were compiled by media data analytics company Milton Data.
Earlier this month, Industry body Commercial Radio Australia welcomed the decision by the ACCC to grant authorisation to CRA and its members to collectively bargain with Google and Facebook over payment for content featured on those platforms.
The authorisation is for a period of 10 years until 22 November 2031.
In its determination, the ACCC said the authorisation is likely to result in public benefits from reduced transaction costs, improved input into negotiations and contribution to the sustainability of Australian news businesses.
CRA represents 261 member radio stations across metropolitan and regional Australia, including ARN, Southern Cross Austereo, Nova Entertainment, Grant Broadcasters and Nine Entertainment. The authorisation excludes Nine, which previously announced it has reached agreements with Google and Facebook.
In September, Commercial Radio Australia announced that its chief executive officer Joan Warner had advised the CRA board that she intends to step down early next year. The search for a replacement CEO commenced immediately with the aim of a new CEO taking up the position during the first quarter of 2022.