What has happened?
Commercial radio australia has published their latest media release in collaboration with Deloitte, revealing a major incline of ad revenue for commercial metropolitan radio stations. Ad revenue increased by 72.6% in May, reaching a staggering $59.605 million total revenue.
What does this mean?
Compared to May last year, which accounted for just $34.534 million in revenue, commercial radio has made a significant comeback after what was a difficult year for most publishers. With May results skyrocketing, commercial radio is continuing to see the trend of a year-on-year revenue increase, which previously climbed by 51.9% during April. “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.
What are the numbers?
Regarding May revenue, Victoria saw a 74.5% increase to over $20 million, as the largest radio market in Australia. All other states showed similar growth, with NSW jumping by 71.28%, and Queensland rising by 77.6%. WA increased by 73.2% and South Australia by 62.1%.
What is next for radio?
The rise in revenue signifies the industry is emerging from the depths of COVID-19, with the industry adopting a newfound perspective of how and when advertising should work. “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.”
With the industry getting back in the swing of radio advertising, we are sure to see more advertisers re-adapt to ensure this channel is not forgotten in future planning. Reach out to your ADMATICian to find out more about how you can integrate radio into your next campaign.
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