Joan Warner, head of trade association Commercial Radio Australia, says that strong November results have kept the industry’s head of steam intact. Revenue gains of 9.23% for the month, the fifth of the nation’s fiscal 2011, were enough to preserve double digit gains YTD.
According to figures provided to CRA by Deloitte, all five metros participated in the strong month, during which radio stations pulled in $64.38M.
* Sydney grew 11.26% to a total of $20.5M
* Melbourne grew by 10.37% to a total of $18.975M
* Brisbane was up 4.25% to a total of $10.53M
* Perth grew by 7.48% to $8.575M
* Adelaide was up 10.6% to a total of $5.79M
YTD, radio is up 10.64% to $300.57M.
Warner commented, “The industry is on track to record a positive result for the 2010 year but must continue to stay focused on promoting radio as an effective and efficient advertising medium.”
RBR-TVBR observation: Good news from Down Under is good news for radio operators everywhere – it underscores the ongoing viability of the medium despite the new realities of the 21st Century media universe. There is plenty of room for tradition media to prosper.