BEIJING: Advertising spending overall in China is forecast to grow 9.3 percent to 545 billion yuan (US$84 billion) this year, faster than last year’s 7.8 percent increase, WPP’s media investment management company GroupM said in a report.
“China’s advertising expenditure market remains upbeat thanks to an unwavering upward media trend driven by the booming daily consumer demand from China’s massive population, stable consumer confidence and growing need for consumption upgrade,” the report said yesterday.
Internet advertising spending is set to surge 30 percent to take up 49.8 percent of the total advertising expenditure this year.
Mobile Internet advertising is expected to grow twice as fast as that of the overall 9.3 percent growth rate.
This year is a big year for sports events, with the Summer Olympic Games in Brazil and the European Football Championships held in France. They are set to lure viewership and advertising expenditure.
“The media landscape has radically transformed due to evolution in the business world and new technology applications in the past year, and marketers are facing challenges from innovations and fast moving market trends,” GroupM China CEO Patrick Xu said in a statement.
