New figures have shown that for the first time, TV will account for less than half of China’s ad spending this year. Advertisers have been moving toward new media and away form traditional TV, especially channels such as the nationally run CCTV.

A GroupM forecast released in September said TV would account for less than half of ad expenditures in China this year for the first time – 46.8%, compared to 62.8% five years ago. It also forecast 2014 ad expenditure growth of 35% for online and 12% for provincial satellite TV channels.

CCTV, a 45-channel giant known for traditional (and often unexciting) lineups of news, movies, documentaries and variety programs, faces more competition from the internet and provincial satellite channels. And it probably has less to trumpet now.

But China’s provincial satellite channels, with more colorful content, are gaining ground. Powerful local internet companies, including Baidu search engine and Alibaba e-commerce platforms, are luring more advertisers away from CCTV and TV in general. People are watching more movies and TV shows on online streaming sites, and ad money is following them. China Central Television, or CCTV, is still a giant: This year it was No. 23 on ZenithOptimedia’s list of top global media owners by revenue, ahead of Facebook.

See the article in full from Ad Age here.

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