China’s economic growth over the past decades have given rise to a thriving Chinese market for media, advertisement and entertainment, especially Digital Out-of-Home (DOOH) advertising, over-the-top (OTT) advertising, online advertising, and gaming. According to a MAGNA GLOBAL report, China is the second largest advertising market globally.
In addition, most of China is still developing and to keep pace with the market, there are significant opportunities to introduce innovative management concepts and practices to revive under-utilised and under-performing assets.
A report by ResearchAndMarkets.com highlighted that the global market for DOOH advertising is projected to reach US$26.9 billion by 2025, driven by the distinct shift towards digital technology in the media world, led by the advent of latest technologies and devices.
Digital technology has enabled outdoor advertising format to become more flexible, impactful and relevant to consumers and advertisers, and also aided in extending its reach to a wider audience base. Given the inherent characteristic of outdoor advertising, digital technology is becoming well integrated with changing ways of consumers` interaction with advertisers. Personalisation of DOOH advertising will emerge as a key trend in the market over the coming years.
In addition, China has achieved substantial development success over the past 40 years and as new market trends evolve within the domestic market, there are challenges for business and assets owners to find new drivers of growth going forward. As such, there are a growing demand for management and operating services that enable business and assets owners to transition to a new growth model.
With strong track record in the management & operation rights of media and property assets in China, the Group’s subsidiary, Beijing Vast Universe Cultural Communications Co., Ltd, (“Beijing Vast Universe”) combines its expertise in advertising, marketing and branding activities to develop innovative events and campaigns to enhance consumer experience and influence their consumer behavior.
Notably, Beijing Vast Universe has diversified industry experience in government, communications, real estate, retail and finance. Its clients include China Unicom (中国联通), Lenovo, China Mobile (中国移动), Dixon, China Post Group (中国邮政集团) and Ping An Group (平安集团).
In addition, Beijing Vast Universe is looking to leverage on the Group's business affiliate, The Place Investment Group, to secure more management & operation rights of media and property assets in China.