A recent report was released for the Hong Kong market that looked at the growth of internet advertising revenue. The report predicted that for the first time, the total internet advertising revenue would surpass that of TV advertising revenue.
This is largely driven by the rapidly growing mobile video industry, which generates a large amount of digital ad revenue. In fact, mobile videos attract similar types of advertisers as television ads, which may lead to some TV revenue being moved into digital.
Wilson Chow from PwC China and Hong Kong said, “Hong Kong has one of the world’s highest mobile penetration rates, but advertising dollars have transitioned slowly because of limited applications to support mobile payments compared to China’s mature m-commerce sector. The emergence of social media TV and high video consumption are attractive avenues for advertisers to grow dollars and a captive consumer base.”
This is important for US marketers because Hong Kong has a similar culture to the US in many ways, and their reliance on mobile device is not unlike that of the United States. As more and more people continue to use mobile as their primary source of consuming content, the ad dollars are going to continue to shift to digital and more specifically, mobile.
