Survey: Ad spend of online media in HK sees steady growth

The online media ad spending in Hong Kong has seen a steady increase from 2018 to 2023, whereas offline media ad spending in the city has dropped significantly over the past five years. 

According to the latest Online and Offline Media Trends Report by admanGo, the proportion of online media ad spend, which includes desktop, mobile and social media, in Hong Kong to total ad spend has been steadily increasing, rising from 23% in 2018 to 55% between January and September 2023. 

Since 2018, the online media share of voice (SOV) for the local cosmetics and skincare industry has consistently increased annually. From January 2020 to September 2023, its online Media SOV exceeded 80% each year, reaching a recent high of 86% from January to September 2023, ranking first in the category.

The local retail industry comes in second in terms of online media SOV, reaching 70% between January and September 2023. It represents a 5.8-fold increase from 2018.

Ranking third is the local travel and tourism services industry, with its online media SOV reaching 68% during the same period. Although it saw a slight decrease compared to 72% in 2022, it’s still ranked as the third-highest within the category.

The online media SOV for the banking and investment industry reached a significant 62% during the same period, marking a recent high. This positions it as the fourth-highest among various categories.

Meanwhile, the proportion of offline media ad spend, including TV, print, radio and outdoor, to total ad spend in the city has decreased sharply from 77% in 2018 to 45% in 2023. 

The top three categories ranked by offline media SOV between January and September 2023 were health and beauty food, pharmaceuticals and healthcare, and property and real estate.

Don't miss: Study: 80% of ad spend in China will come from digital media by 2024

In fact, the digital media market share in China will continue to expand, with 80% of total local advertising spending expected to come from digital media by 2024, according to the latest report by dentsu China. 

In terms of ad spending, the size of China’s advertising market in 2022 slightly increased compared to the previous year. Looking forward into 2023, with further easing and optimisation of epidemic preventive and control measures, as well as the economic and business recovery cycle, China’s domestic consumer demand will gradually improve, resulting in an increase in growth rate of local ad spend in the next three years, according to the report. 

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