Radio is alive and well and growing despite some retailers pushing radio sales down the pecking order especially when it comes to shelf space.
A new Deloitte Access Economics reveals that around 17 million Australians listen to commercial radio and audio each year.
Audience numbers have grown by almost 14% in the five years to 2023.
Commercial radio is freely available, in contrast to many other modern forms of entertainment.
They claim that with consumer prices rising by 7% in the 12 months to March 2023 and cost of living pressures increasing, it is especially important for Australians to have access to entertainment which is free to access and available right across the country.
It also appears that consumers still like listening via a radio vs an online stream of a radio station.
When consumers were questioned about their preferences the report revealed that respondents listened to radio included tuning into broadcast radio (77 per cent), online radio (30 per cent) and catching up on podcasts (14 per cent).
The report, entitled Connecting Communities: The Economic and Social Contribution to Commercial Radio and Audio in Australia, surveyed 1000 Australians and showed the increase in the past five years was approximately 14 per cent.
Industry body Commercial Radio and Audio chair Ciaran Davis said the results proved radio’s longevity after the industry last week celebrated 100 years in Australia.
“It has adapted to new trends, new technologies and we make sure our content is available wherever audiences want to consume it,” said Mr Davis, who is also the chief executive of ARN Media.
“Live radio is being consumed as much as ever if not more and we are reaching over 12 million people a week which has increased every year over the last 10 years,” he said.
