Chinese ad market improves in May: CTR Research
CTR Research data showed month-on-month improvement in China's ad market after promotional activities spurred ad spending.
Nationwide advertising spending in May, which excludes digital spending, picked up 25.6 percent from a month earlier; while the annual decline was 17.1 percent, improving from a 29.8 percent drop a month earlier.
Hygiene products, home appliances, IT products and services continued to increase ad expenditure, with top brands including Huawei, Vivo and 58.com.
“Although the ad market has not yet returned to the same level as last year, the gradual resumption of business operations will bring back ad operations to a normal situation," the report said.
Dairy products and packaged drinks are fastest-growing segment in terms of spending on elevator LCD ads as outdoor restrictions gradually loosen.
TV, magazines and newspapers are still the worst-hit, but are improving on a month-over-month basis, with 16.7 percent and 21 percent growth for magazines and TV ad spending respectively.
The overall weak ad spending was due to budget cuts in traditional big segments like food and beverage and beauty, the report said.