Olympics hype aside, ad growth is slowing down in China. But it’s still on track to become the second-largest ad market in the world next year, according to WPP media buying unit GroupM.
Overall ad growth in China is drop from 22% in 2008 to 19.5% in 2009, a fall-off from the 29% compounded annual growth between 2001 and 2007. Total ad spending in China is expected to total $35 billion in 2008, and GroupM says online advertising will account for 7.3% of spending or $2.5 billion. That’s more bullish than eMarketer’s $1.4 billion 2008 estimate made earlier this year.
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