The focus for this year's event is promoting peace over war
Commercial radio ad revenue for the five major Australian capital cities increased by 0.7% to AU$48.916 million in July compared to AU$48.571 million a year ago, according to figures released today by industry body CRA.
Sydney stations recorded a 5.9% year-on-year increase in ad revenue to AU$14.690 million in the month. Perth stations grew 3.0% to AU$6.488 million, and Adelaide stations were up 2.0% to AU$4.424 million. Brisbane reported a 6.7% decrease to AU$7.138 million, and Melbourne was down 1.4% to AU$16.177 million.
CRA chief executive officer Ford Ennals said that although ad revenue had yet to rebound to pre-pandemic levels, good progress had been made in the calendar year to date, with revenue up 5% on 2021 and 27% for the same period in 2020.
“Metro commercial radio revenue growth has slowed in the first month of the new financial year to nearly +1% growth, but overall revenue remains +5% up year on year versus 2021. In these uncertain economic times, our clients and agencies recognize that radio advertising is more effective than ever, offering a highly flexible and affordable way to reach a large audience,” he said.
Last week CRA announced the launch of an Audio Planning Tool, powered by Nielsen’s Consumer and Media View audience data, one of the first in a suite of research initiatives the CRA plans to introduce over the coming months.