China’s only national TV broadcaster, China Central Television (CCTV), held its annual auction on Nov. 18 for ad spots during 2010 prime-time programming as well as title sponsorships for key programs such as CCTV’s Chinese New Year gala, nightly weather reports and special events like World Cup coverage.
The full results will not be made public until later this week, but media buyers who took part in the frenzied auction today at CCTV’s Media Center in Beijing said trade was brisk and new records were set.
At the November 2008 auction, CCTV raked in 9.256 billion RMB ($1.355 billion), up from 8.028 billion RMB in 2007, the first time revenue topped $1 billion. Some experts estimate TV ad rates will go up by 15% in 2010.
Four of China’s top media buyers — senior execs at Aegis Media, Group M, OMD and Zenith Media — filed first-person accounts from CCTV auction. Here is what they thought of the premier event in China’s media industry.