CRA RELEASE: Commercial Economic Advisory Service of Australia (CEASA) figures released yesterday for the 2008 calendar year show radio continues to be a resilient media in tough times attracting advertising revenue of $991.7 million in 2008 – a slight increase of around 0.7% from $984.4 million in 2007.

Chief executive officer of Commercial Radio Australia, Joan Warner, said CEASA’s Advertising Expenditure in Main Media report for the year ended December 31, 2008 shows radio advertising again proved to be resilient in tough economic times.

“The CEASA figures show that metropolitan advertising revenue fell slightly (0.1%) and regional ad revenue grew by around two per cent last year – and overall radio delivered a slight increase in revenue for the year,” Ms Warner said.

“The largest metropolitan revenue market of Sydney was particularly challenging last year for the radio industry and along with the global economic crisis, impacted strongly on the overall figures.”

Ms Warner said the radio industry had enjoyed several years of strong growth over the past few years and that the introduction of digital radio next month would bring added interest and opportunities for the industry.

“The industry is excited about the opportunities digital radio offers and is gearing up for an unprecedented marketing and promotional campaign, beginning Easter Monday, highlighting the benefits of digital radio for listeners,” Ms Warner said.