HONG KONG: China will surpass Japan to become the world's second-largest advertising market by 2015, according to PricewaterhouseCoopers (PwC).
"China's advertisement growth will come from emerging domestic and foreign brands," said Marcel Fenez, PwC's global leader of entertainment and media practices on Wednesday, June 16.
After a year of decline, the global entertainment and media market is growing 5% annually and will reach US$1.7 trillion by 2014.
The United States would remain the world's leading advertisement market, with spending expected at US$180 billion by 2014, PwC said.
Studies by PwC showed consumers continued to embrace new media at fast pace, and that digital transformation was driving audience fragmentation to higher levels.
"Some companies perceive the continuing fragmentation of the market as a threat but it should be seized on as an opportunity," Fenez said.
An emerging trend is that consumers are ever demanding content to flow across different devices, as people want to consume and interact with content anywhere and anytime, he said.
As global advertising recovers from last year's decline, advertisers are migrating to digital platforms as well.
Television, including mobile and online television, will keep the largest share of the global advertising market, from 37% last year to 2014, according to PwC.
Internet advertising will surpass print advertising, taking up the second-largest share of 21%.
PwC projects the mainland entertainment and media market to grow at a 12% annual rate, behind Saudi Arabia and other Arab states' 16.5% growth.
"The mobile industry is a huge story in the Arab world," said Fenez, adding that improvements in literacy had also helped traditional media growth.
In Hong Kong, digital migration is still at a slow pace. Advertisement platform preferences would remain almost the same over the next five years, with newspapers taking an unchanged market share of 33% and television grabbing 27%, PwC said.
Total advertising will grow an annual 5% over the five years to 2014.
Most consumers in Hong Kong "still prefer content over traditional platforms", said Cecilia Yau, a partner at PwC.
Most of the quality content was produced by local television stations and advertisers were still able to achieve their objectives through traditional media, she said.
US consumer spending dropped last year for the first time in 10 years.
As consumers cut back on video games, the industry experienced lower than expected growth.
"Americans didn't spend," Fenez said, adding that the release of several key games were postponed.
Radio, magazines and newspapers advertising around the world fell faster than expected last year. ' South China Morning Post
"China's advertisement growth will come from emerging domestic and foreign brands," said Marcel Fenez, PwC's global leader of entertainment and media practices on Wednesday, June 16.
After a year of decline, the global entertainment and media market is growing 5% annually and will reach US$1.7 trillion by 2014.
The United States would remain the world's leading advertisement market, with spending expected at US$180 billion by 2014, PwC said.
Studies by PwC showed consumers continued to embrace new media at fast pace, and that digital transformation was driving audience fragmentation to higher levels.
"Some companies perceive the continuing fragmentation of the market as a threat but it should be seized on as an opportunity," Fenez said.
An emerging trend is that consumers are ever demanding content to flow across different devices, as people want to consume and interact with content anywhere and anytime, he said.
As global advertising recovers from last year's decline, advertisers are migrating to digital platforms as well.
Television, including mobile and online television, will keep the largest share of the global advertising market, from 37% last year to 2014, according to PwC.
Internet advertising will surpass print advertising, taking up the second-largest share of 21%.
PwC projects the mainland entertainment and media market to grow at a 12% annual rate, behind Saudi Arabia and other Arab states' 16.5% growth.
"The mobile industry is a huge story in the Arab world," said Fenez, adding that improvements in literacy had also helped traditional media growth.
In Hong Kong, digital migration is still at a slow pace. Advertisement platform preferences would remain almost the same over the next five years, with newspapers taking an unchanged market share of 33% and television grabbing 27%, PwC said.
Total advertising will grow an annual 5% over the five years to 2014.
Most consumers in Hong Kong "still prefer content over traditional platforms", said Cecilia Yau, a partner at PwC.
Most of the quality content was produced by local television stations and advertisers were still able to achieve their objectives through traditional media, she said.
US consumer spending dropped last year for the first time in 10 years.
As consumers cut back on video games, the industry experienced lower than expected growth.
"Americans didn't spend," Fenez said, adding that the release of several key games were postponed.
Radio, magazines and newspapers advertising around the world fell faster than expected last year. ' South China Morning Post
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