Commercial radio finished the financial year on a positive note, with advertising revenue for metropolitan stations reaching $775.464 million in 2015/16, up 5.88% compared to the previous year, according to figures sourced by Deloitte and released today by Commercial Radio Australia.

The figures showed ad revenue across the five capital city markets grew by 5.79% in the month of June to $75.003 million.

Joan Warner, chief executive officer of CRA, said the industry had grown advertising revenues for the fourth consecutive year.

“Radio remains as important as ever to business and government as an effective medium to reach consumers,” she said. “We have retained high levels of listener loyalty despite increased competition, and that has been the cornerstone of our growth.”

Ms Warner (left) said uncertainty in the political and economic environment made radio a safe choice for advertisers because of the flexibility, cost-effectiveness and speed of production it offered.

The Deloitte figures showed Adelaide recorded the strongest growth in ad revenues over the 12 months ending June (up 9.40% to $71.349 million), followed by Melbourne (up 5.99% to $237.566 million). 

Sydney retained its title as the largest radio advertising market, recording growth of 5.46% to $238.392 million. Brisbane was up 4.46% to $121.482 million and Perth climbed 5.91% to $106.674 million.

For the month of June, Sydney was up 8.06% to $23.830 million, Melbourne was up 3.33% to $22.844 million and Brisbane rose by 6.59% to $11.963 million.  Adelaide declined by 1.11% to $6.309 million, while Perth rose by 10.09% to $10.058 million.

The Deloitte figures report actual revenue received by metropolitan commercial radio stations and include all metropolitan agency and direct revenue.