XFMedia Wins Major Radio Contract, Further Strengthens Its Edge in Auto Sector
May 09 2008 - 8:20AM
PR Newswire (US)
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: IR Contact Jennifer Chan
Lyman Tel: +86-21-6113-5960 Email: DATASOURCE: Xinhua Finance Media
CONTACT: Media Contact - Joy Tsang, +86-21-6113-5999, or ; or IR
Contact - Jennifer Chan Lyman, +86-21- 6113-5960, or Web site:
http://www.xinhuafinancemedia.com/
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