MindShare, the WPP-owned media planning and buying specialist, reports from its Hong Kong office that all the elements of an Asian advertising boom are in place.
Not only are advertisers continuing to up their spend, but TV channels and press media rates are beginning to show a resurgence after the 1998 recession.
The signs of boom are at their most obvious in Indonesia and Thailand – the biggest causalities of 1998’s Asian economic slowdown. In Thailand, advertising time/space is expected to cost 6% more than in 1999, following a 12% plummet in 1998 – while in Indonesia media prices are predicted to rise by an average of 19% (2% down in 1998).
However, in the region’s biggest and fastest-growing ad market, China, prices will rise by a relatively modest 7% compared with 13% last year. “But”, says MindShare’s chief executive Kelly Clark, “we could yet again see aggressive pricing policies in China if the expected increase in foreign direct investment materializes following World Trade Organization membership.”
News source: Wall Street Journal