Hong Kong Adspend Report Q1 (April 2023)

There was a remarkable surge in advertising spending in Hong Kong in Q1 2023. Why? Which industries are spending more? Check out the report conducted by admanGo to discover more.

According to admanGo's latest report, the first quarter of 2023 saw a remarkable surge in advertising spending in Hong Kong, reaching a total value of HKD 6.85 billion with a YOY increase of 22%. This is a significant growth in local adspend, and it is attributed to the lowered comparison base last year due to the impact of the fifth wave of the pandemic.

Highlights:

• More analysis on Media Share - In the Digital Media sector, Mobile and Social Media adspend recorded YOY increase of 44% and 23% respectively in the first quarter.
• Top 10 Industries - The adspend of Restaurants (ranked ninth) also increased to 37% YOY, while the adspend of Fashion, Accessories & Eyewear (ranked tenth) increased by 67% YOY in the first quarter.
• Top 10 Advertiser Groups - Most of the Top 10 Advertiser Groups recorded positive YOY increase in adspend in the first quarter. MTR had the highest increase in adspend among the groups, with a 779% YOY increase in the first quarter

For more details, please read the report here https://www.iabhongkong.com/research-corner

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