Hong Kong – Asian media stocks have begun 2007 on a positive note. Through January 23, broadcasting sector stocks were up by 6% over last year, pay-TV stocks showed an 8% gain and Internet improved by 4%.
The advertising and publishing sector averages both ticked up by 3%, according to Hong Kong-based Media Partners Asia, Ltd (MPA), a leading provider of independent analysis and information on Asia's media and communications industries.
MPA’s January report noted that excluding the soft Japanese market, most media stock averages in the rest of Asia posted healthy gains in 2006. Driven by Zee TV and Sun TV in India, broadcast stocks shot up by 31%. Online media rose by 21%, due chiefly to gains by China’s Tencent and Baidu.
Last year net advertising grew by 19% in China and 23% in India. MPA projects online ad revenues in the Asia-Pacific will climb by 7.5% this year (versus 6.2% in 2006).
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