CRA: Commercial Economic Advisory Service of Australia (CEASA) figures, released, for the first half of the 2008 calendar year show radio continues to perform in attracting advertising revenue with an increase of 5.7 percent to a total of over $486 million.

Chief executive officer of Commercial Radio Australia, Joan Warner, said CEASA’s Advertising Expenditure in Main Media report for the six months ended June 30, 2008 shows radio advertising continues to perform in a competitive market with the metropolitan market recording growth of around 3.3 percent to a total of nearly $311 million and regional markets growing by 9.8 percent to a total of just under $165 million.

Ms Warner said, “An increase of 3.3 percent in metropolitan markets and 9.8 percent in regional markets for the January to June 08 period compared to January to June in 2007 is good news for the radio sector. However, we need to take a cautious approach to any growth forecasts over the rest of the year as we cannot yet predict the likely flow on effect of the current uncertainty in global financial markets.”