Trade association the IAB (Interactive Advertising Bureau) has joined forces with the Digital Marketing Association of Hong Kong (HKDMA) to launch IAB Hong Kong. The new organization aims to promote global interactive ad standards and further digital marketing in one of the most digitally-savvy markets in the world.
Led by the HKDMA founding members comScore, Facebook, Google, Next Digital, Oath, Pixels and South China Morning Post , the newly IAB-affiliated trade organization will work with IAB to drive common goals, promote global standards and guidelines, create better ads and improve consumer experience, and advance social trust and the industry’s interests in the Hong Kong marketplace.
Founded in October 2016, HKDMA represents more than 80 corporate members, comprised of local and international companies, including agencies, exchanges, technology providers, platforms, media companies, and brands — all of which will now also become members of IAB Hong Kong. Since its establishment, HKDMA has strived to help Hong Kong’s advertising and marketing professionals get the most out of digital by providing members with access to industry trends and data, best practices, workshops and events, and many other services, and will continue to do so under the new IAB Hong Kong moniker. The city is known for its digitally-savvy citizens with 230 percent mobile penetration (e.g.each person in Hong Kong has over 2 mobile subscriptions on average), 70 percent smartphone penetration and 75 percent social media penetration. In lockstep with those figures, compounded average growth rate (CAGR) of digital ad spend in Hong Kong is anticipated to hit 10.3 percent from 2016 to 2021.
“With digital advertising revenues expected to surpass $1 billion in 2018, Hong Kong represents an important growth market for the global digital advertising industry,” said Dave Grimaldi, Executive Vice President, Public Policy, IAB. “As a new member of the IAB global network, we welcome the opportunity to greatly strengthen our collaboration with HKDMA to help promote the growth of our industry in Hong Kong and beyond.”
“We are thrilled and honored to join the IAB global network. This is an important milestone for the Hong Kong digital marketing industry and enables us all to elevate our industry to global standards and move it forward as digital becomes the largest advertising medium in the city. In addition, we can learn from best practices from global IAB chapters and leverage IAB resources to grow the interactive advertising sector in Hong Kong, facilitate training courses and certification and help recruit talent to the industry. We also look forward to helping our members and the digital marketing ecosystem in Hong Kong exchange best practices and ideas amongst ourselves and with other IABs around the world.” said Cecilia Chan, Executive Director, IAB Hong Kong/HKDMA.