Developers prefer dailies to television in project promotions
Oriental Daily News, Hong Kong's largest circulation Chinese-language newspaper, raised its advertising rate by up to 10 per cent after discounts this month, sources at advertising agencies said yesterday.
Rival Apple Daily has also raised rates, though by a smaller amount, a brokerage media analyst said.
Paid-for dailies, under increased competition for advertising dollars since the launch of two more free newspapers in August last year, will benefit from a property-market recovery in the next three months and as developers of new projects place budgets with newspapers rather than with television, an advertising agent said.
The advertising revenue of Television Broadcasts, the largest broadcaster in Hong Kong, 'is under pressure this half due to the effect of advertisers switching to newspapers,' the source said.
The property sector spent HK$94 million on advertising in August this year, or 5.5 per cent of the HK$1.69 billion in advertising dollars, according to media research firm admanGo.