Ad market predicted to rebound
Print Edition
China鈥檚 ad market is expected to rebound after falling 11.6 percent in the past year due to pandemic restrictions and cautious business sentiment, CTR Research said.
鈥淒ue to the relatively low base in the early months of 2020, this year ad spending is very likely to pick up steadily,鈥 it said.
The ad market has started to show a month-on-month improvement since April after promotional activities spurred ad spending. But the total ad budget still falls behind compared with 2018 and 2017 when it recorded a 2.9 percent and 4.3 percent annual increase.
IT products and services is the only category in the top 10 that saw an increase in ad spending last year, rising 46.9 percent from a year ago as many turned to digital services during the pandemic lockdown.
Entertainment and leisure activities, commercial facilities and transport suffered the most while food and beverage sector firms remain big advertisers but with relatively mild growth 鈥 at an annual increase of just 0.4 percent in 2020.
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