Shanghai Television Festival generates US$90 million worth of deals
Shanghai- The 13th annual Shanghai Television Festival, which ran June 11-15, clocked deals with more than 700 million yuan (US$90 million), according to the organizers. Some 1,038 episodes of TV series and other programs were traded at the event, a little less than last year’s total. New media deals, mostly for broadband video web sites, accounted for a big increase in revenues, although representing just 2.9% of the total trading value, the Shanghai Daily reported. “The increase in spending among new media in copyright content is the biggest this time,” said Bao Xiaoqun, director of strategic development at Shanghai Media Group, one of the organizers, although he did not quantify the increase. Bao noted that it was the first time that some program makers had chosen new media as their only buyers at the TV festival. More than 60% of the exhibitors look positively towards the development of new media, according to a survey of exhibitors.
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