Survey: Social media tops ad spending as HK market shrinks 5% in Q3

Hong Kong’s total ad spending has declined 5% YOY to reach HK$8.58 billion in the third quarter of 2025, with social media emerging as the top advertising channel, according to admanGo.

Local ad spending in July and August dropped by 11% and 9% YOY respectively, reflecting more cautious marketing strategies adopted by some brands amid seasonal demand fluctuations. 

Supported by gradually improving economic activity and positive developments such as bank interest rate cuts in September, several sectors advanced their fourth-quarter (Q4) promotional campaigns. This led to a 5% YOY increase in September ad spending, indicating a gradual return of market confidence.

Despite ongoing economic uncertainty and weak consumer confidence, key sectors such as banking (+6%), pharmaceuticals (+2%), and beverages (+15%) recorded YOY growth in advertising spending during the quarter, serving as major drivers of market recovery.

From a media perspective, social media ranked first in ad spending for third quarter 2025, posting a 17% YOY increase, followed by mobile and TV in second and third place respectively. Search engine marketing (SEM) ranked fourth with a 13% market share. Most traditional media also recorded YOY growth during the quarter, with TV ad spending up 8%, and both outdoor and magazine ad spending rising 5%.

Top 10 advertiser groups in Q3 2025

The top 10 advertiser groups in the third quarter 2025 were HSBC Group, Vita Green Health Products, P&G, Nestlé Group, Booking Holdings, Standard Chartered, Cathay Pacific, Maxim's Caterers, foodpanda, and DBS Bank.

During the period, banking and investment services ranked as the top industry, recording a 6% YOY increase. Among the top 10 advertiser groups, HSBC and Standard Chartered both recorded a 13% YOY decline in ad spending, while DBS Bank saw a 10% increase. The data suggests that major banks adopted different marketing and promotional strategies in response to market conditions and business priorities. 

Meanwhile, pharmaceuticals and healthcare ranked as the second-largest industry, recording a 2% YOY increase in ad spending. Beverages recorded a 15% YOY increase, the highest growth among the top 10 industries, rising from 8th place last year. Among the top 10 advertiser groups, Nestle Group recorded a 23% YOY increase in ad spending, further driving the overall growth of advertising investment in the beverage category.

Health and beauty food ranked eighth among the top 10 industries in the third quarter of 2025, recording a 3% YOY increase in ad spending, reflecting the continued steady demand for health-related products. Among the top 10 advertiser groups, Vita Green Health Products recorded a 4% YOY decline in ad spending, showing that advertisers in the industry implemented varied marketing strategies.

Notably, Maxim's Caterers recorded a 14% YOY increase in ad spending, and the group mainly focused on promoting its mooncake products, benefiting from the overall advertising boost during the Mid-Autumn Festival season.

Looking ahead to the fourth quarter, visitor arrivals during the recent Golden Week holiday reached new highs, while the Christmas season is expected to drive traditional consumption peaks, advertisers are expected to step up their promotional efforts, supporting continued growth in advertising expenditure through the year-end period.

Related articles:

Global digital ad spend hits US$690 billion, poised to dominate in 2030
Hong Kong ad spend sees 6% decline in Q2 2025
Survey: Half of HK firms plan to boost marketing and ad spending in 2025