Industry Analysis & Industry Trends
With strong and steady economic growth over the past several decades, China has developed into the second-largest advertising market in the world. Over the past five years, revenue for the Advertising Agency industry has been growing 16.6% annually. The industry is set to generate $79.6 billion in 2014, up 13.3% from 2013. Industry assets are estimated to total $57.5 billion in 2014, up 15.3% from 2013.
There are over 101,000 agencies employing about 1.90 million people with an estimated payroll of $15.3 billion in 2014. Although the Advertising Agencies industry as a whole has maintained rapid growth, localized advertising markets have become stagnant. This is due to local advertising companies being geographically scattered and small in scale.... purchase to read more
Industry Report - Starting a New Business Chapter
The Advertising Agencies industry in China is labor-intensive. Therefore, firms with a large number of experienced staff have a significant advantage to attract large clients compared with new firms.
As some domestic and foreign advertising agencies have good reputations and well-known brands, customers may prefer to deal with such firms. This forms another barrier for potential entrants. Firms in this industry with rich media resources also have significant advantages to compete against newcomers.
Requirements to comply with central and provincial legislation and regulations are important legal barriers facing a new firm to the industry... purchase to read more