China's leading advertising companies see revenue growth in first three quarters

BEIJING - China's leading advertising enterprises and public institutions posted solid revenue growth during the first three quarters of 2024, official data showed Wednesday.

Revenues of the 857 leading advertising enterprises and public institutions reached around 1.13 trillion yuan ($156.97 billion) during the period, up 6.1 percent year-on-year, according to the State Administration for Market Regulation.

Internet advertising revenues of the enterprises and public institutions grew faster, up 15.4 percent from a year ago.

Traditional media have been accelerating the digital transformation of their advertising business. Public institutions represented by radio, television, and newspapers achieved internet advertising revenue of 2.37 billion yuan from January to September, surging 75 percent year-on-year.

The market outlook for advertising companies has continued to improve, and their development confidence has significantly increased, the administration said.