China’s advertising market is predicted to grow this year

Beijing. June 28. Silkroadnews - According to forecasts, China’s advertising market will grow 6.5% year-on-year to 630 billion yuan ($906.1 billion), which is 5.4% higher compared to estimated growth made in January, representing about 16.2 % of the global advertising market, Shanghai Daily reports.
The growth will depend on the digital costs, which are projected to make up 60% and grow 14.85 in 2018, Dentsu Aegis Network says.
About 80% of this growth is expected to be contributed by Chinese Internet giants, including Baidu, Alibaba and Tencent, which will affirm their dominance in the market.
The China ad market is forecasted to grow 6 percent in 2019, driven by a 12.5 percent increase in digital ad spending, with e-commerce spending forecast to make up 40.5 percent of total digital spending in 2019, the report reads.
Global advertising spending is projected to grow 3.9% in 2018 to $613.5 billion, thanks to a more positive global outlook, accelerating from a 3.3% annual increase in the previous year.
Growth of advertising revenues in 2018 is conditioned, in particular, by the U.S and China, which account for one third and one quarter of new growth, respectively. Russia, India and China are expected to be the three fastest growing markets.
Next year, global advertising spending is expected to grow, despite the lack of significant sports and political events. The highest growth in 2018 is expected in video and social networks.
Advertising expenses in social networks will grow 21.6% this year and 18.3% next year.