China State Broadcaster Auctioned Prime Time Slot at a Record Price

China’s main state broadcaster, China Central Television (CCTV) in the month of November raised a record 15.88 billion Yuan (US$2.5 billion) by selling prime-time advertising spots for year 2013.

As per News paper Global times, Revenue from the closely-watched auction by China Central Television (CCTV) grew more than 11 per cent from a similar auction for year 2012.Analysts is describing the results as encouraging amid a slowdown in China’s overall economy.

The results also highlighted the fact, that the state broadcaster are still dominant in the country despite the growth of social media and the rise of local television stations that have captured viewers with more entertaining programmes. With this, CCTV’s leading position in the sector is going to remain unchallenged in the next two to three years.

Some Big spenders for the year 2013 includes home appliance giant GOME and spirit makers Wuliangye Group and Kweichow Moutai Co., who are paying a total of more than 1.0 billion yuan for spots during the evening news.

CCTV is also planning to list its website as part of a group of domestic listings by state-owned media giants.

Since the 1990s, China is propelling state-owned media to stop depending upon government handouts and become profitable through subscriptions and advertising, even though competition is even fiercer with the internet.

Social media, such as microblogs similar to Twitter, as well as online news offerings, likes the website operated by Chinese internet giant Sina, are challenging the staid state media for viewers.