R3’s 2024 China Media Inflation Trends Report covers 2022/2023 actual inflation and 2024 inflation forecasts. This report mainly focuses on the overall media inflation forecast of digital and OOH in China, which accounts for the highest ratio of media investment in the industry.

R3 does not rely on any one single data source; making our inflation forecast one of the most objective and independent available. In preparing this report, R3 referred to R3 media intelligence data; macroeconomic data from governments and international institutions (i.e., World Bank); financial reports (2020 – 2023) of listed media companies; and nearly 700+ public rate cards from over 200
media platforms.

In 2024, total advertising revenue growth in China is expected to reach 8.2% in 2023, with digital outpacing all other media formats, growing 15.5% year-on-year. This marks a recovery from the previous year as China’s economy stabilizes in response to adjustments in pandemic policies, and points to a future media landscape dominated by digital display advertising and OOH. With the exception of Weibo, all digital giants and key digital platforms experienced double digit growth in 2022/2023.

Other insights within this report, include:

  • Growth rate of advertising revenue across Digital, OOH, and TV
  • 2024 media inflation forecast by Type of Mobile Apps; Ad Format; Key Digital Platforms; and Media Category