China’s Online Ad Spend Keeps Growing And Growing
Today, reports have gone out that project China’s online advertising market will exceed 10 billion yuan ($1.3 billion) this year, which is a 1114.6% increase over last year.
Nielsen reported that online advertising revenues reached as much as 870 million yuan, with a market growth of 7.5 billion yuan within the first 10 months of the year. There is a prediction that China’s online advertising industry will skyrocket between now and next August due to the approaching date o the 2008 Summer Olympics in Beijing.
Online advertising in China eclipsed the growth of advertising in magazines and broadcasting as well. With a total ad income in excess of $100 million, Sina, Netease, QQ and Sohu, China’s four largest portals came out on top in the third quarter. The largest online spenders were fast consumable product makers and entertainment according to The Economic Times.
Advertisers are searching for new ways to reach people online in China. VP of Sina, Du Hong said to ET The blog advertising is still in its infancy. If successful, it will create more advertising carriers and tactics.” The report concluded that the U.S. online ad spend will reach $20 billion this year which is a 26% increase during the first three quarters.
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