Commercial radio : Advertising revenue at metropolitan commercial radio stations has grown by a further 5.76 percent to $654.5 million during the 12 months to the end of June 2008, according to figures released today by Commercial Radio Australia.

The figures, sourced by Price Waterhouse Coopers, show Perth led the way with growth of 17.80 percent year-to-date (YTD) end of June 2008. Brisbane is up 10.90 percent YTD, Melbourne is up 6.65 percent YTD and Adelaide is up 6.51 percent YTD, while the Sydney market remained relatively stable with a slight decrease of just 1.17 percent YTD.

The Sydney commercial radio station market accounted for $218.7 million of advertising revenue during the financial year, Melbourne recorded revenue of $186 million, Brisbane $104.5 million, Perth $83 million and Adelaide $62 million.

Joan Warner, chief executive officer of Commercial Radio Australia, said the latest figures show that radio remains a powerful advertising proposition, with even greater opportunities ahead.

“Commercial radio ad revenue has now increased every year for the past six years,” Ms Warner said.
Ms Warner added that the link between radio and online presented a significant opportunity for commercial radio stations and many had invested significantly in developing their online presence in recent times.
“Radio and the internet are both instant, conversational media that appeal to the connected generation, so there are clear benefits in using radio and online advertising in combination. The launch of digital radio in 2009 will also give radio a new lease of life,” Ms Warner said.