NEW YORK & HONG KONG--(BUSINESS WIRE)--The Interactive Advertising Bureau (IAB) and the Digital Marketing Association of Hong Kong (HKDMA) today announced that HKDMA is becoming the 46th national IAB licensee. It will be known as IAB Hong Kong powered by HKDMA. 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 powered by HKDMA.
There are IABs in Africa, Asia, Australia, Europe, North America, and South America. With the addition of IAB Hong Kong, there are 46 national IABs and one regional IAB, IAB Europe. Each organization is independently owned and operated, functioning under bylaws consonant with local market needs, with transparent governance and finances, to advance the interests of the digital industry.
For more information about the IAB Global Network, please visit iab.com/global.
The Interactive Advertising Bureau (IAB) empowers the media and marketing industries to thrive in the digital economy. Its membership is comprised of more than 650 leading media and technology companies that are responsible for selling, delivering, and optimizing digital advertising or marketing campaigns. The trade group fields critical research on interactive advertising, while also educating brands, agencies, and the wider business community on the importance of digital marketing. In affiliation with the IAB Tech Lab, it develops technical standards and best practices. IAB and the IAB Education Foundation are committed to professional development and elevating the knowledge, skills, expertise, and diversity of the workforce across the industry. Through the work of its public policy office in Washington, D.C., IAB advocates for its members and promotes the value of the interactive advertising industry to legislators and policymakers. Founded in 1996, the IAB is headquartered in New York City and has a San Francisco office.
About IAB Hong Kong powered by HKDMA
IAB Hong Kong powered by HKDMA is the 46th national IAB licensee. It is a not-for-profit association which aims to develop standards and best practice on digital marketing to shape the future of digital marketing for Hong Kong’s advertising and marketing community.
The founding members of IAB Hong Kong powered by HKDMA; comScore, Facebook, Google, Next Digital, Oath, Pixels and South China Morning Post all share a common goal to see marketers embrace digital at a level unprecedented in Hong Kong’s advertising and marketing industry. PwC is a supporting partner to the association.
Through working with its member companies, IAB Hong Kong powered by HKDMA is committed to talent development, education and cutting-edge research about the critical role of digital marketing. More information at www.iabhongkong.com.