Digital campaigns boost HK advertising market
Expenditure up 16pc to hit new record as online and mobile campaigns post highest growth
Advertising spending in Hong Kong continued to grow last year, hitting a record-high HK$49.9 billion as leading industries increased their online and mobile campaigns.
Banking and investment services was once again the biggest-spending industry category, while multinational consumer goods company Procter & Gamble (P&G) maintained its spot as the city's leading advertiser, according to data released yesterday by media-monitoring firm admanGo.
Total advertising expenditure was up 16 per cent last year from HK$43 billion in 2013, which validated the rosy industry outlook announced in February by the Hong Kong Advertisers Association and market-measurement company Nielsen.
"Marketers are positive and ready to invest in advertising," association chairman Raymond Ho said at the time.
Concerns about the global economy had spooked many major companies into slashing their marketing budgets in 2013.
Traditional media outlets - television, newspapers, magazines, outdoor billboards and display, and radio - took up 90 per cent of total advertising spending last year.