According to admanGo, expenditure on local advertisements celebrating Chinese New Year reached 480 million in 2024, the highest since 2018. Due to the impact of the pandemic, adspend on CNY celebration had previously dropped to 245 million in 2020 but gradually rebounded after 2021. Retail became the primary sector for adspend on CNY celebration, accounting for a 20% market share in 2024. The report also encompassed Adspend Trends in Media SOV, Category SOV and top-spending Advertisers.
Interested in learning more about CNY adspend data? Please feel free to call Esther Wong (2836 6792) or Jonas Wong (2151 3395) to arrange a meeting at https://bit.ly/3170la0 to get the report for free.
CHINESE NEW YEAR ADSPEND REPORT (2018 – 2024)