We are starting with a new weekly column about Digital Out-Of-Home Advertising in China, in which we will briefly give information about the situation around the DOOH market in China. And today we start with the news that attracted the attention of the entire market!
FOCUS MEDIA Reports 3.265 Billion CNY Revenue in Q3,
up 137% over Q3 of 2019!
On October 22, Focus Media released its Q3 2020 report. The report shows that the 1st three-quarters of this year's revenue was 7.875 billion CNY and 2.202 billion yuan in net, and increased 61.9%; Q3 revenue is 3.265 billion CNY, net profit of 1.379 billion yuan, an increase of 136.77%.
What's Their Secret?
According to the official statistic report, in July and August 2020, China's advertisers have reduced ad spending on traditional media - newspapers, magazines, radio, and TV - they all are on the wane and still suffering. BUT the elevator TV and elevator banners ad spending in July and August 2020 increased by double, to achieve more substantial growth.
Source: Focus Media Official Website (CN) [URL: https://www.focusmedia.cn/detail/1071/#jump ]
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Dmitry Shklyar, Founder of Eastidea on Instagram: @dmitry_shklyar