Australian commercial radio ad revenue continues to track slightly below 2022 figures, with metropolitan March monthly ad revenue down 2.0% compared to March 2022, according to figures released by industry body Commercial Radio and Audio. In total, first quarter metropolitan ad revenue is down 1.6% compared to 2022.
Monthly ad revenue across Australia’s five major metropolitan markets totaled AU$62.746 million in March, compared to AU$64.034 million a year ago. First quarter 2023 revenue was AU$155.825 million, compared to 2022’s AU$158.37 million. Quarterly metro ad revenue is up 1.6% from 2021’s AU$153.418 million.
Ford Ennals, CEO of CRA, says, “Australians have been hit with increased interest rates and tightening purse strings. This, and the significant reduction in government advertising spending, has resulted in a tough advertising market for most. Commercial radio has not been immune to this.”
Despite the results, Ennals remains upbeat, adding, “Radio advertising continues to offer bang-for-buck, with figures for direct spending by networks remaining resilient and overall spending tracking roughly in-line over the past three years. This has included strong investment in radio in March by advertisers in the auto and supermarket/convenience store segments.”
The Perth and Sydney markets were most resilient year on year. Perth monthly revenue was up 2.3% year on year, and Sydney was up 0.4% for the first quarter.
A breakdown of the five major metro markets showed year-on-year March ad revenue at:
- Perth stations up 2.3% to AU$7,923 million.
- Sydney stations decreased by 0.2% to AU$19.647 million.
- Melbourne stations down 3.2% to AU$20.641 million.
- Brisbane stations down 4% to AU$9.269 million.
- Adelaide stations fell 6.4% to AU$5.266 million.
The metropolitan radio advertising revenue numbers exclude radio station digital audio revenue from radio streaming and podcasts. The digital audio market continues to grow, with the combined digital streaming and podcast market now accounting for AU$221.2 million of revenue in 2022, according to figures announced for the first time in an industry collaboration between CRA and IAB Australia.