Commercial Radio & Audio (CRA) has released new figures that show ad revenue for metropolitan commercial radio stations grew by 18% to $62.719 million in the month of September compared to $53.149 million a year ago.
The strong result for radio was the 19th successive month of year-on-year growth and reflected strong ad spending across categories, including entertainment, homeware and electrical retailers, travel and communications providers.
Sydney stations increased ad revenue by 34% to $18.836 million and Melbourne by 27% to $21.118 million.
Revenue for Brisbane stations was up 1.5% to $9.250 million, Adelaide was down 0.2% to $5.550 million and Perth was up 2.4% to $7.966 million.
CRA chief executive officer Ford Ennals said revenues were now close to levels recorded before the pandemic.
CEO Ford Ennals
“Categories like live entertainment and travel, which were impacted last year by Covid, have come back strongly this year and the market remains buoyant heading into the peak retail season,” he said.
“Commercial radio advertising has real and sustained momentum which has seen a strong recovery back to pre-pandemic levels of revenue and in some major markets are setting new record revenue levels,” Ennals added.
September quarter revenue totalled $167.114 million, 10% higher than the same quarter a year ago.
The strong results follow a 12% increase in ad revenue in the month of August and weekly commercial radio audiences hitting a record high of 12.1 million in the most recent GfK radio survey 6.
The revenue figures were compiled by media data analytics company Milton Data and include agency and direct ad revenue.
Last month, GfK has published its Survey 6 analysis, with the report revealing that Commerical Radio & Audio (CRA) breakfast radio listenership has enjoyed a soaring increase of 20 per cent to more than 8.4 million people tuning in across the five major metro markets.
This is compared to 7.0 million last year, as per the GfK radio ratings.
See also: GfK Survey 6 results: Breakfast shows take commercial radio to another record high