Commercial Radio and Audio (CRA) has reported 2.1% dip in ad revenue in January 2023 compared to the same time last year, according to figures released by the industry body.
Ad revenue across Australia’s five major metropolitan markets totalled $41.811 million in January, compared to $42.698 million a year ago.
Monthly January 2023 ad revenue is up 2.4% compared to January 2021’s $40.796 million.
Ford Ennals, CEO of CRA, said: “Radio is holding up well and remains a good choice for advertisers in times of economic uncertainty.
“January was a mixed bag for us, with two major markets up and three down, and we are encouraged by the level of demand that we are seeing now from media agencies and clients.”
Sydney and Brisbane stations reported year on year ad revenue gains for the month of January, with declines in Melbourne, Adelaide and Perth.
Sydney stations reported a 1.3% year on year increase to $12.601 million, while Brisbane stations were up 3.8% to $6.489 million.
Melbourne stations dipped 4.1% to $13.694 million, Adelaide stations were down 7.1% to $3.527 million and Perth stations dropped 7.4% to $5.5 million.
Audiences remained strong for commercial radio stations in the five metro markets with the last GfK radio ratings of 2022 showing an extra 940,000 listeners compared to the previous year, with 82% of Australians aged 10+ tuning in weekly.
The ad revenue figures include agency and direct ad revenue and were compiled by media data analytics company Milton Data.
Last month, Australia’s metropolitan commercial radio networks reported a five percent increase in advertising revenue in 2022 to reach $701.402 million compared to $665.619 million in 2021.
The figures, released by industry body Commercial Radio & Audio (CRA), reported Melbourne stations led the revenue gains with 8.1% growth in calendar year 2022, while Sydney increased by 7.7%. Perth rose 2.2%, Adelaide 1.8% and Brisbane 0.1%.
Ennals said at the time, the industry had rebounded well from the impacts of Covid over the past two years, however radio had not yet fully recovered from 2019 pre-pandemic levels.
See also: CRA: Metropolitan commercial radio ad revenue grew 5% in 2022