CRA attribute metro radio ad revenue decline in Q1 to “election uncertainty”
Commercial radio metropolitan advertising revenue declined by 2.6% to $181.612 million in the March quarter, compared to $186.518 million in the same period a year ago.
This is according to data compiled by Deloitte and released today by industry body Commercial Radio Australia on Monday.
Ad revenues fell slightly across all five major capital city markets in the quarter, in line with “softening economic conditions”.
Melbourne was the largest market, attracting $58.856 million in ad revenue in the March quarter (down 1.37%), followed by Sydney with $56.336 million (down 1.70%).
Brisbane commercial radio stations reported a 4.66% decline in revenue to $27.531 million, while Perth was 4.69% lower at $23.183 million and Adelaide was down 3.82% to $15.705 million.
The Deloitte figures report actual revenue received by metropolitan commercial radio stations and include all metropolitan agency and direct revenue.
“Weaker business conditions and election uncertainty are impacting on all media sectors,” said CRA chief executive Joan Warner. “Many advertisers have plans on hold until after the election.”
Metropolitan radio ad revenue rose 3.40% to $809.421 million in calendar year 2018.
The Deloitte radio ad revenue figures are released quarterly with the June quarter data release due in July.