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Following ad spending trends from mainland China, advertising investment in Hong Kong across all formats remained flat during the first three months of 2016. As it turns out, the stalled growth rates are the result lower ad spending in the quarter from a number of the market’s top category advertisers.
According to a Q2 2016 ad spending report released by admanGo, total monthly ad spending stayed steady at HKD 3.3 billion ($425 million) during the months of April, May and June.
However, ad spending was down year-over-year compared to 2015, with each month of Q2 2016 experiencing a spending decrease of 10 percentage points or more over the same quarter last year.
Although there’s no one single explanation for this decrease in Hong Kong ad spending, budget pullbacks from a number of key advertising categories may be contributing to the slowdown. As the report’s estimates reveal, Q2 ad spending across nearly every Hong Kong industry sector was down YOY in comparison to 2015.
The only exceptions to the rule were the beverage sector, which saw a 1% increase in spending compared to 2015, and in the health and beauty food category, which grew its ad expenditures by 16% vs. the same quarter last year.
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