Two bidders from Wuliangye Group, a large alcohol producer, win six advertisement slots during news shows at China Central Television's annual auction for primetime advertising in Beijing on Nov 8. The total value of winning bids was the highest in 17 years, said the broadcaster. [Photo / China Daily]

Trust in old hands

China Central Television (CCTV), the State broadcaster, held its 17th annual primetime slot auction in November, attracting winning of bids more than 12.67 billion yuan ($1.86 billion), a rise of 15.5 percent year-on-year.

"The amount of money sets a new record in 17 years," said He Haiming, deputy director of the station's advertising and management center, who explained that food and beverage, home appliance and finance and insurance sectors "were the stars".

In a recent report by the New York-based World Brand Lab, CCTV's brand value was put at more than 113.5 billion yuan, putting it fourth domestically behind China Mobile, State Grid and Commercial Bank of China.

Money is rolling in for provincial stations, too. Hunan Satellite TV is expected to make 3.6 billion yuan from advertising this year, thanks largely to its adaptations of shows popular in Britain and the United States, such as American Idol and The Apprentice.

Jiangsu TV, meanwhile, is aiming to generate 1.44 billion yuan in ad revenue, up 200 million on 2009. Following the success of dating show If You Are the One, the broadcaster increased prices by 30 percent.

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In the print media, one of the biggest winners has been Shenzhen Press Group, which owns ten newspapers, five journals and a website. The company posted an 8.2-percent year-on-year rise between January and October this year.

An advertising department worker at 21st Century Business Herald, a best-selling financial newspaper owned by Nanfang Daily Media Group, also revealed his office had hit the annual revenue target of 300 million yuan by the end of October.

Beijing News, which has a daily circulation of about 725,000, is also expected to see its advertising income grow by 32 percent year-on-year to 1.4 billion yuan, said president Dai Zigeng.

He explained that most advertisers are in real estate, automobiles, education and tourism, as well as the finance and fashion sectors.

"(Our clients are) usually (promoting) very high-value brands," added Dai. "The high quality and taste of Beijing News is basically dependent on its readership."

According to the 2010 Rich List published by Hurun Report, which monitors China's wealthy, the nation's capital has the highest concentration of millionaires, including 94,000 people with assets worth 100 million yuan or more.

"Whether someone is super rich or not, daily newspapers are still arriving on their breakfast tables or office desks every morning," said consultant Yuan Shimin. "That's the core value of these papers."