Procter & Gamble's associate director-media, Greater China, assumes his throne for 10 hours at one of the world's strangest and most colorful media events, the China Central Television auction. There, with great grandeur, in one grueling day that generates 60% of its advertising income, China's national broadcaster sells slots for prime-time programming and special packages for the coming year -- and the promise of the Beijing Olympics helped it reap $862 million, up 16%.The auction starts at 8:18 a.m. because "8" is considered the luckiest number in China.
(...) Radically different from U.S. The CCTV auction system is radically different from the way advertisers buy airtime on media in other countries, said Jack Klues, chairman of Publicis Groupe's media division, as he witnessed his first CCTV auction. In the U.S., "there are several TV networks that are more or less equally strong, so advertisers pit sellers against each other. But in China, CCTV has the power, so the system pits advertisers against each other."
(...) 'Giving face' Media experts say the auction is really about ceremony, "giving face" to partners and making CCTV look good. Besides linking their brands to the Olympics, Chinese companies buy slots at the auction "to make a big show, to further government relations or to gain credibility and stature before an IPO," said Rob Hughes, managing director, MindShare, Beijing. While P&G is the king of the auction, the real winner is always CCTV.
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