CCTV to slash advertising

Chinese Central Television (CCTV) announced that it will cut its prime-time advertising slot during the 9 o'
clock hour from 2-1/2 minutes to one minute. The minute will be split into four 15-second advertisements.

The move is expected to dramatically boost advertising rates. Advertising spots will be sold via an auction.

CCTV has a stake of more than 30% of the total television audience in China and accounts for 40% of mainland
television advertising revenues. CCTV is facing growing competition from satellite broadcasters.