As stated by Xinhua, China’s national news agency, a series of advertisements consists of 7 episodes about Yangtze River started to run from 9th of December until the end of 2016 at New York’s Times Square.
Including Beijing, Chengdu, Nanning, Jinggangshan and Suzhou, more than 30 cities in China has been promoted at Times Square since 2011. Further, this is not the first time China’s advertisements were showed on the same billboard at Time’s Square. Wuliangye, Gree Electric and Xinhua News Agency all have advertisements on the same billboard in the past; though you might also see HSBC’s promotional ads, do you know HSBC actually short for ‘The Hongkong and Shanghai Banking Corporation’?
There is one thing you might notice that the billboard Xinhua Gallery Media based actually is not located at the most famous skyscraper where the New Year’s Eve Ball descends by the end of the year — 1 Times Square. It is on 2 Time Square which will take around 5 minutes to walk from 1 Times Square.
Accordingly, this 19 meters height, 12 meters wide billboard rented by Xinhua Gallery Media, subsidiary to CIC (China International Culture & Image Communication Corporation), which belongs to Xinhua News Agency. That is the reason most of the time you see Xinhua News Agency on the billboard.
So how much it cost to advertise at Times Square?
AdvertestingAge interviewed Brian Turner, the president of Sherwood Outdoor back to 2005, though he didn’t release the prices for advertising at Times Square, it costs $200,000 to $350,000 for one among 11 billboards at one and two Times Square per month estimated by the industry.
The Business Insider updated the price for advertising could between $1.1 million and $4 million in 2012, as compared to the price in 2005, the prices seems affected by 2008 financial crisis, Times Square still been regarded as the most expensive spot to do advertising.
Whereas, video promotion at the Times Square could be cheaper in contrast to the Super Bowl advertising. According to Business Insider UK, one spot for the Super Bowl advertising could cost up to $5 million and only lasts 30 seconds with reach no more than 100 million audiences.
The feedback from most of Chinese either stay in China or abroad seems quite positive, especially those Chinese original from those areas or cities feel so proud of their homeland when they saw the city image promotion videos in New York.
Moreover, ‘Sherwood Outdoor leases all of its LED sign locations on a long-term basis to a single advertiser, typically 10 years or more at a time.’ replied by Jared Gramstrup, the executive vice president of Sherwood Outdoor, whom the lessor of the billboard on Times Square via email.
So it is no need to be surprised if you will see more promotional ads at the Times Square about China in the future.