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XFMedia Wins Major Radio Contract, Further Strengthens Its Edge in Auto Sector
Friday, May 09, 2008
BEIJING, May 9 /Xinhua-PRNewswire-FirstCall/ -- XFMedia (Nasdaq: XFML), a
leading media group in China, announced that it has signed a 3-year contract
with a major China auto advertiser for promotion on radio channels in China's
three top cities.
Under the contract, the automobile advertiser will take up sectional
advertising minutes on Shanghai's EasyFM 87.9, Beijing's EasyFM 91.5, and
Guangdong's traffic radio FM107.7.
Beijing and Shanghai EasyFM are China's only bilingual radio channels
targeting audience with higher education and income levels. Guangdong Radio
FM107.7 is primarily a drive-time radio format aimed at high-income private
vehicle owners aged 25 to 48.
"Our effective integration as a media platform is the major reason we won
this contract," said XFMedia CEO Ms Fredy Bush. "We can provide radio assets
in all three major markets where auto sales are significant and growing."
"XFMedia provides advertisers with unique access to China's upwardly
mobile demographic, and this deal is a good example of that," Ms Bush added.
"Radio is the primary entertainment during drive time and we are very pleased
to be able to provide advertisers with the appropriate media channel to reach
out to their target audience."
According to the National Bureau of Statistics, China has become the
second largest new car market since 2006, next to the US. China's car
ownership at the end of 2007 rose to 56.97 million vehicles, an increase of
14.3% over the previous year, of which 35.34 million were private cars, up
20.8%.
"The potential for growth in the China's auto industry is significant, and
we are focused on building a strong position in the market," said Ms Bush.
"There are currently only 30 cars for every 1,000 people in China, far behind
the world's average of 120 cars per 1,000. That is why auto companies are
expanding their advertising expenditure so rapidly."
Ms Bush said the radio business is one of the key focus areas of XFMedia
since over 90% of China's advertising dollars go to TV, radio and print. For
fiscal year 2007, the radio business contributed 4.1% of XFMedia's total
revenue, of which around 50% came from Guangdong radio advertising.
XFMedia successfully planned and organized China's Best Car Award 2007 in
late March, strengthening its position in the auto industry. The awards
ceremony, held at the Four Seasons Club in Beijing on March 29, recognized the
top brands and models in the China market.
XFMedia announced earlier this year that membership of its Traffic Radio
Channel Car Owners Loyalty Club in Guangdong had grown to 80,000 within the
past year. The loyalty club was established to promote Guangdong Radio FM107.7
and to provide advertisers with more direct access to their target audience.
The club approach is very effective in China in terms of building consumer
loyalty for advertiser's products and services while increasing revenues for
consumer club operators like XFMedia.
About Xinhua Finance Media
Xinhua Finance Media ("XFMedia"; NASDAQ: XFML) is a leading media group in
China with nationwide access to the upwardly mobile demographic. Through its
five synergistic business groups, Advertising, Broadcast, Print, Production
and Research, XFMedia offers a total solution empowering clients at every
stage of the media process and connecting them with their target audience. Its
unique platform covers a wide range of media assets, including television,
radio, newspaper, magazine, outdoor, online and other media assets.
Headquartered in Beijing, the company has offices and affiliates in major
cities of China including Beijing, Shanghai, Guangzhou, Shenzhen and Hong Kong.
For more information, please visit http://www.xinhuafinancemedia.com .
Safe Harbor Statement
This announcement contains forward-looking statements. These statements
are made under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "confident" and similar
statements. Among other things, quotations from management in this
announcement contain forward-looking statements. Statements that are not
historical facts, including statements about XFMedia's beliefs and
expectations, are forward-looking statements. Forward-looking statements
involve inherent risks and uncertainties that could cause actual results to
differ materially from those contained in any forward-looking statements.
Potential risks and uncertainties include, but are not limited to, risks
outlined in XFMedia's filings with the U.S. Securities and Exchange Commission,
including its registration statement on Form F-1. All information provided in
this press release is as of the date hereof, and XFMedia undertakes no duty to
update such information, except as required under applicable law.
For more information, please contact:
Media Contact
Joy Tsang
Tel: +86-21-6113-5999
Email: joy.tsang@xinhuafinancemedia.com
IR Contact
Jennifer Chan Lyman
Tel: +86-21-6113-5960
Email: jennifer.lyman@xinhuafinancemedia.com
SOURCE Xinhua Finance Media
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