CCTV Auction Spending Up 18.5% to $1.6 Billion

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BEIJING ( -- Advertisers committed to spend RMB 10.97 billion ($1.6 billion) at the annual Nov. 18 auction for prime-time airtime on China's state-run national broadcaster CCTV, according to the company. That's an 18.5% increase over last year's RMB 9.26 billion ($1.36 billion).

CCTV said the 50 non-Chinese advertisers who took part in the auction upped their spending even more, by 28%.

The biggest spenders included Langjiu Group, an alcohol marketer, which spent RMB 400 million ($58.6 million) and China Mengniu Dairy, which spent RMB 343.34 million ($50.3 million).

Marketers of household products, construction materials, small electrical appliances and cars all dramatically increased spending this year.

Source: CCTV

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