BRISBANE City Council has forked out more than $300,000 on the controversial CityCycle scheme since it was introduced despite the number of users plummeting in its first few months of operation.

Figures released this week found the number of annual subscribers plummeted from 1251 in October when it began operating to only 131 in January.

CityCycle operator JC Decaux was paid $93,000 for the October quarter, $73,000 for the January quarter and $143,000 for the March quarter - they receive $122 per bike in use for each quarter.

But despite the decline in usage during the scheme's first four months of operation, BCC's Public and Active Transport chairman Julian Simmonds said CityCycle was becoming increasingly popular.

"CityCycle has got off to a promising start, particularly considering much of the inner city went under water during the floods and the popular Riverwalk washed away," Cr Simmonds said. "We are seeing these numbers continuing to grow as we roll out more stations and the increase of about two-thirds since we reached the 100th station is a sign of confidence in the scheme."

Cr Simmonds said the number of daily trips had increased by 65 per cent since May, rising from a weekly average of 1281 for the first seven months to 1982 a week.

Under the scheme, users can buy an annual subscription for $60.50, three months for $27.50 or $11 for a day.

But riders must use their own helmets.

Users can ride for 30 minutes at a time for free but are charged for longer periods of usage.

Council Opposition Leader Shayne Sutton slammed the CityCycle scheme and said the money used could have been much better spent.

"At this rate it would have almost been cheaper to buy bicycles for everyone who purchased an annual or quarterly CityCycle subscription," Cr Sutton said.

"We know there are hundreds of CityCycle bikes sitting idle on Brisbane streets every day and yet the LNP administration is dumping even more yellow bikes on our streets."

The second stage of the scheme is expected to be complete by the end of the year.

There will be bikes located every 300m to 500m from Newstead to St Lucia, with 150 bike stations across the inner city.

Residents opposing the construction of a CityCycle station in Sandford St at St Lucia are due to meet with council tonight.

They believe the new bike station planned for their street will be an eyesore.

Originally published as $300,000 to peddle unpopular scheme