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Despite the stagnancy in the advertising market, the China Central Television (CCTV) gained record high 5.7 billion yuan (US$683 million)last year in the advertising business, today's Beijing Youth Daily reported.
Revenue of the previous year was 5.4billion yuan.Accordingly,CCTV remains as China's No.1company in the advertising industry,according to analysts.
"The income rise of 2001is mainly due to the soaring business of the second half of the year,"said Guo Shangxi,director of CCTV's advertising department.
"Especially in December,our business was nearly two-thirds up compared with a year before,"Guo said.
According to Guo,nearly half of last year's revenues is made from CCTV's public auction held for its advertisement slots.The TV station staked in 2.6billion yuan at the annual auction for this year's slots.The auction is regarded as a main source of CCTV's advertising revenues and taken for the sign of China's overall advertising market.
For this year's advertising business,Guo seems optimistic.He said the advertising revenue in January has jumped more than 40percent over the same period of the year before.
However,Guo also noted the competition in the overall advertising market will be harsh this year.
He said "the country is tightening up the control on the advertising sector,such as for medicine products,and more overseas competitors are rushing in for a stake in the domestic market".
(eastday.com February 20, 2002)
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