WASHINGTON: Hong Kong’s advertising market weakened in April, with ad spending falling 12 percent from a year earlier to HK$3.3 billion, a report by admanGo said yesterday.
Ad revenue at most media outlets was modest. But for free newspapers, it jumped 13 percent last month year-on-year, thanks to more ads placed by medical, travel and retail firms. Ad revenue will remain under pressure this year, said Cheong Shin-keong, executive director and general manager of Television Broadcasts Limited (0511).
ViuTV, the new free television station owned by PCCW (0008), has boosted competition for TVB. The television industry enjoys a 30 percent market share in terms of ad revenue, still ranking first among all media. In terms of brands, health food maker Yamatoo raised its advertising spending three-fold, while Japanese tour agency EGL Holdings (6882) boosted ad spending by 82 percent from a year earlier, admanGo said.
