Note: This website was automatically translated, so some terms or nuances may not be completely accurate.
China News★CCTV Prime Time Advertising Public Bidding Estimated at $752 Million
China's state-run broadcaster, China Central Television (CCTV), held its public auction for 2016 prime-time advertising slots on November 18. According to estimates by Dentsu Inc. Aegis Network's China division, the total bid amount reached $752 million (approximately ¥92.9 billion).
Among the top bidders, Changan Ford, a Ford joint venture, secured the reality show "Challenge the Impossible" (attempting Guinness World Records) for $47 million (approx. ¥5.8 billion). Chinese dairy giant Yili and food conglomerate Bright each won slots during the Rio Olympics period for $27 million (approx. ¥3.3 billion) and $21 million (approx. ¥2.6 billion), respectively.
CCTV operates numerous channels covering news, sports, and entertainment. Its annual public auction was known as an event symbolizing China's rapid economic growth, but the total bid amount has not been officially announced since 2012. In recent years, the proportion of pre-sales has increased, making it harder to gauge the economy based on public auction figures as in the past. Meanwhile, it is also noted that television advertising spending is declining, pressured by the rise of the digital domain.
Source: Ad Age
Chinese Broadcaster's TV Upfront Takes in $752 Million
Was this article helpful?
Share this article
