Commercial radio ad revenue in Australia dipped 2.1 percent in January 2023 compared to the same time last year, according to figures released by industry body Commercial Radio and Audio.

Ad revenue across Australia’s five major metropolitan markets totaled A$41.811 million (US$28.53 million) in January, compared to $42.698 million a year ago.

January 2023 ad revenue was up 2.4 percent compared to January 2021’s $40.796 million.

“Radio is holding up well and remains a good choice for advertisers in times of economic uncertainty,” said Ford Ennals, CEO of CRA.

“January was a mixed bag for us, with two major markets up and three down, and we are encouraged by the level of demand that we are seeing now from media agencies and clients.”

Sydney and Brisbane stations reported year on year ad revenue gains for the month of January, with declines in Melbourne, Adelaide and Perth.

The ad revenue figures include agency and direct ad revenue and were compiled by media data analytics company Milton Data.