Radio revenue for metropolitan markets was flat for the financial year ended June 2017, according to figures released today by CRA.
Commenting on the figures, CRA CEO Joan Warner says it is important for competition that Australia’s media laws be modernised.
According to the June 2017 Metropolitan Commercial Radio Advertising Revenue, as sourced by Deloitte, advertising revenue for the twelve months ending June for the five metropolitan markets was slightly down 0.21% to a total of $773.849 million, compared to FY16. It is the first contraction in growth since 2012.
Commercial Radio Australia CEO Joan Warner said the results were patchy, with Adelaide and Perth, particularly feeling the impact of slower economic growth.
“While radio is continuing to maintain a solid revenue base in comparison to other traditional media, the industry is feeling the impact of stifling regulation that was developed pre-internet.
“We need to modernise Australia’s outdated media laws to allow radio stations to compete on a level playing field for advertising dollars.
“Our radio stations are Australian owned and run, producing live, local news and entertainment. Our members employ thousands of people across the country and yet members of Parliament won’t pass media reform that would allow us to compete more effectively against multinational
internet giants,” said Warner.
Chief executives from Australia’s major commercial and subscription TV, newspaper and radio companies have shown an unprecedented show of support over the last two months and are calling on Parliament to support the Federal Government’s broadcast and media reform package to modernise Australia’s outdated media laws.
Individual markets for the financial year were: Sydney up 0.81% to $240.334 million, Melbourne up 0.27% to $238.201 million and Brisbane up 0.02% to $121.501 million. Adelaide was down 4.38% to $68.224 million and Perth down 1.02% to $105.588 million.
For the month of June 2017, the five metropolitan markets dipped 1.41% to a total of $73.950 million. Melbourne was up 1.01% to $23.073 million, Sydney down 1.50% to $23.472 million, Brisbane down 2.83% to $11.624 million, Perth down 5.42% to 9.513 million and Adelaide down 0.66% to $6.268 million.
The Deloitte figures report actual revenue received by metropolitan commercial radio stations for the calendar month and include all metropolitan agency and direct revenue.