Sydney’s Radio Ad Revenues Decline in Fiscal 2012
Radio advertising revenues in the Sydney market declined by 2.1% to $210m in the fiscal year (FY) ending 30 June 2012, according to industry-sourced statistics compiled by accounting firm Deloitte and published by the commercial radio’s industry representation group Commercial Radio Australia.
This represented the poorest performance among Australia’s five metropolitan markets. As a group, the other four metro markets increased radio ad revenues by a marginal 0.3% during the past 12 months.
However, the 2.1% fall in radio ad revenues in Sydney last year was better than the 5.3% decline in TV ad revenues in that market over the same period.
Below Trend Growth for Sydney Radio
The 2.1% decline in Sydney ad revenues in FY 2012 was well below the 1.6% compound annual growth rate (CAGR) which radio advertising revenues experienced in that city over the past decade between FY 2002 and FY 2012.
As in the other metro markets, the Global Financial Crisis (GFC) had a noticeable adverse impact on Sydney radio advertising revenues, leading to a decade of two distinct parts.
After having grown at a 3.3% CAGR between FY 2002 and FY 2008, Sydney radio ad revenues, post the GFC, actually declined by an average 1.0% per annum (pa) between FY 2008 to FY 2012.
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