OgilvyOne Worldwide this week announced the launch of Neo@Ogilvy, China, in Beijing, reports China Daily. It will manage digital media investment for global clients such as American Express, Cisco, DuPont, IBM, Lenovo, and SAP. "China's internet advertising industry realized an amazing increase of 40-45 percent last year," Jennie Fan, China president of OgilvyOne Worldwide, is quoted as saying. And it is poised to take off.
China's online advertising market reached 3.1 billion RMB (Renminbi ["people's money"], or yuan) in 2005 (roughly $385 million), ranking fourth among all channels, according to ChinaTechNews, which cites forecasts of China's online advertising market totaling 4.6 billion RMB ($572 million) in 2006 and reaching 15.7 billion RMB (1.95 billion) in 2010.
"Digital media, whether it is delivered through a television, a private computer or a mobile phone is going to change the advertising industry forever and Neo@Ogilvy is well positioned for this paradigm shift," according to Fan.
