New data, compiled by Deloitte and released by industry body Commercial Radio Australia, shows a rebound in radio advertising.
According to the data, advertising revenues for commercial radio stations at metro stations jumped 72.6 percent in May to $ 59.605 million from $ 34.534 million a year ago.
This increase reflects a strong rebound in radio from the depths of the COVID-19 crisis, as advertisers returned to the market.
“It is extremely encouraging to see advertisers coming back to radio in force after 12 difficult months,” said Joan Warner, Chief Executive Officer of the CRA (photo).
“The industry is seeing strong activity from domestic advertisers and we expect the recovery in the SME market to continue to intensify over the coming months and into the busy Christmas season.
“Most major categories of advertisers have recovered well and it is expected that with the new fiscal year a new round of investment is very likely.”
The results follow a 51.9% year-over-year increase in advertising revenue in April to $ 51.636 million.
The metropolitan revenue figures compiled by Deloitte show the revenues received by metropolitan commercial radio stations in the capital’s five major markets and include agency revenues and direct advertising revenues.
In May, Victoria, the largest radio market, rose 74.5% to $ 20.028 million from the same period a year ago, while NSW stations enjoyed a 71.2% increase to $ 17.685 million.
Queensland stations rose 77.6% to $ 8.965 million, WA rose 73.2% to $ 7.470 million and South Australia climbed 62.1% to $ 5.457 million.