Strong Numbers from Early 2018 Increase Zenith's Outlook on China
In December, Zenith forecasted that adspend in China would experience a 6% growth this year. However, due to a surge positive growth early this year, Zenith has updated its forecast, estimating an 8% growth in adspend this year in China.
This forecast comes after a string of trends identified from early this year. One such trend is the resurgence of television adspend.
Zenith states that “A notable development here is that television has fought back against strong competition from online video and is no longer losing adspend, which it did in 2014, 2015 and 2017… We expect 1% growth in television adspend in China this year, alongside 13% growth in online advertising”.
In the global adspend arena, China comes up as the second largest contributor to new adspend from 2017-2020, according to Zenith- second only to the US.
All in all, China’s adspend is set to increase exponentially, at one of the fastest rates we’ve ever seen. If you’re looking to break into the Chinese market, and want to know more about advertising in China, don’t hesitate to drop us an email at email@example.com.