Hong Kong’s online ad spend expected to double TV’s within five years
Hong Kong’s internet advertising campaign budgets will swell to 34 per cent of the industry total by 2021, says new study
Hong Kong’s television advertising spend is forecast to continue shrinking over the next five years, losing out to spending on the internet, according to a latest report on the sector.
TV ad spending will fall to 14 per cent of the total market, from the current 16 per cent, while internet campaign budgets will swell to 34 per cent of the industry total by 2021, according to the jointly produced study by global business consultancy PwC and Hong Kong Digital Marketing Association. It first overtook TV for the first time, in 2015.
The rest of the ad spending by then will be in magazines (9 per cent), business to business (15pc), newspapers (10pc), and so called out of home, such as in the MTR and on roadsides (14pc).
Cecilia Yau, PwC Hong Kong’s entertainment and media leader, said: “The success of digital marketing in Hong Kong will be defined [in future] by the industry’s ability to deploy an optimal mix of digital versus traditional media for each marketing campaign.”
Hong Kong’s TV industry revenues has struggled in recent years.
Most notably, 59-year-old Asia Television – best-known locally as ATV and the first and one of the city’s biggest television broadcasting companies – closed for good in April last year, as funding dried up after years of losses.
