Total advertising revenues of 16 leading internet companies in China surged by 39% to US$57.28 billion in 2018. The BAT together accounted for over 70% of the total. Qutoutiao, ByteDance, Bilibili, and Meituan are among the fastest-growing ones with annual growth exceeding 100%.
The leading internet companies still earned a lot from online advertising in 2018 despite cooling real estate, the difficulty in getting approvals of game licenses, and tight control over internet finance sector.
Overall, the 16 internet companies as stated generated 384.5 billion yuan (US$57.28 billion) in revenues from advertising, an increase of 39% year-on-year, according to financial results of 15 listed companies and a report from Bloomberg.
Specifically, Alibaba was the biggest earner of...
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