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The Color of Money is CCP Red Not USA Green
Amidst the collapse of the western financial system and turmoil in many markets we turn to the digital sector, and in particular the Chinese digital sector to see extremely healthy growth rates and very active spending. The Guardian today released a news item titled China’s Digital Ad Spend to Rocket
China Digital Ad Spend
KPMG ran the study and the star was of course digital ad spend estimating a growth rate of 73% this year and 43% next year and be worth $5.2 bn. This almost currently equals the UK digital ad spend but of course the real story is the scope for growth.
China’s Booming Digital Engine
The constituent components which power the Chinese digital engine explain the booming figures.
- Chinese Internet user population [19% of pop.] is highest globally and steadily growing
- Chinese Internet users are online for longer, e.g, they are online 14 times longer than US users
- Chinese Internet users have a high consumption and usage relationship to technology
- Chinese Internet users spend more time using social media than most others user groups, a recent MTV study showed Chinese social media users as the highest in Asia
The KPMG report urges UK media companies to tap into this “Asian Tiger Economy.” Which brings me full circle back to my original point. Watch the flow of capital from the west into the east increase, especially within the digital sector as it seeks healthier market returns.
Interesting stats…they reflect my observations of Chinese internet usage as well
I’m hoping to publish some research at DesignEd Asia in early December 2008 from a pilot study examining the relationship between cultural background, online media and cognition as it relates to the development of online design education.
The preliminary findings suggest that Australian respondents exhibited higher levels of ambivalence toward the format in which content was presented. Correlating with studies suggesting that Chinese youths experience the web more intensely than western peers (Doctroff 2007), CHC students were more decisive in their preferences for particular media types than their Australian counterparts.
The study also revealed a more complex interplay of internal and external dynamics. East west online collaboration is a complex area and there exists a multiplicity of cultural specificities and expectation that need to be taken into account.
I think this is likely to apply across all industries and although capital may flow from west to east there are still a lot of issues to be clarified about how to leverage and capitalise on digital China. The issue is one of cultural adaptivity and collaboration itself is central to that. It’s a fascinating area but fraught I think with challenge to “lowai”.
Hi Ian - yeah, cultural background certainly impacts upon the way in which groups consume or use technology and are reflective of deeper cultural issues relating to internal and external processes.
In a nutshell - Chinese audiences do love their tech!
Please let us all know when your study is published I’m sure there will be some interesting reading.
cheers /tim