Commercial Radio Australia released the latest round of data on revenue received by metropolitan commercial radio stations in the five major capital city markets, including agency and direct ad revenue. Compiled by Deloitte, the figures show a “strong rebound for radio from the depths of the COVID-19 slump, as advertisers returned to the market,” said a press release by CRA.
Commercial radio advertising revenue for metropolitan stations rose by 72.6% in the month of May to reach $59.605 million from $34.534 million a year ago.
The results follow a 51.9% year on year increase in ad revenue in the month of April to $51.636 million.
“It’s enormously encouraging to see advertisers returning to radio in full force after a challenging 12 months,” said Joan Warner, chief executive officer of CRA. “The industry is seeing robust activity from national advertisers, and we anticipate the recovery in the SME market will continue to build in the coming months and into the busy Christmas season.
In the month of May, Victoria, the largest radio market, was up by 74.5% to $20.028 million compared to the same period a year ago, while NSW stations saw a 71.2% increase to $17.685 million. Queensland stations rose 77.6% to $8.965 million, WA was up 73.2% to $7.470 million and South Australia climbed 62.1% to $5.457 million.
