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Thursday, September 6, 2007

SIME@World Economic Forum in China

SIME is extremely proud that our Host and Producer, Ola Ahlvarsson, is one of the selected "New Champions" to participate at the first "Davos in China", featuring global growth companies and new champions. Today Ola met with Sir Martin Sorrell, CEO of WPP (with names like Ogilvy, Young & Rubicam, J. Walter Thompson and Grey). Sir Martin described how the Chinese media landscape is opening up and how digital media is leading the way. There is a fantastic opportunity to tango with local media companies. Another key understanding is that 184 cities have more than 1 million people…and each of theses cities could be seen as a new market where you can do local partnerships.

The most interesting space for foreign companies to focus on is the evolving digital arena. The growth is unmatched and the space is less regulated. Other interesting areas that grow fast are outdoor media but also radio, growing with 20-30% ( probably as a result of the growing Shanghai and Beijing traffic jams...) Last but not least Chinese magazines are becoming an increasingly interesting channel to reach the rapidly growing high income audiences.

However there are also some challenges such as:

Sir Martin also commented on the development of the new media market in Scandinavia: ”Looking at Scandinavia you are excellent in new media, for example Schibsted (SIME Grand Prize Winner 2006) has been fantastic, and a great investment for international institutions”.

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