Charm #1 in Volume of Successful Bids at CCTV Primetime Auction for 9 Time in a Decade
Charm Communications Inc. (Nasdaq: CHRM) (”Charm” or the “Company”), a leading advertising agency in China, today announced that for the 9th time in ten years the Company’s advertising business unit, Charm Advertising, contracted more sales than any other agency at the annual CCTV 2011 Prime-time Auction, which was closed on November 8, 2010.
The CCTV Prime-time Auction is the most important event in China’s advertising industry. The auction’s result is viewed as a leading indicator of growth prospects in China’s advertising industry over the next year and an important measure of business confidence across the whole economy. This year the value of total auctioned resources exceed RMB12.7 billion, an increase of 15.52% over the previous year.
“This year’s record CCTV auction demonstrates the strong confidence Chinese companies have in the domestic economy as well as the increasing understanding of the value of communications and branding,” commented He Dang, founder, chairman and CEO of Charm.
“Today’s success further solidifies Charm’s leadership in China’s advertising industry. We are confident that more Chinese and international companies will leverage our full offering platform covering satellite TV, Internet and new media to build leading brands targeting China’s fast growing consumer market.”
Separately, Vizeum China, Charm’s 60% owned joint venture with Aegis Media, also represented its clients, participating in the auction for the first time.PDFPrint