Yuanyu Radio (China) Co., Ltd., a Shanghai-based radio advertising agency, has raised a US$90 million new funding round from Olympus Capital Asia and Singapore's UOB Venture Management.
During the first half this year, the market size of the Chinese radio advertising industry recorded an increasing of 9.2%, while the number of TV advertising, newspaper advertising and outdoor advertising all experienced a decrease of 3% to 30%, according to CTR Market Research.
The growth of the automotive industry has contributed the most to radio advertising market. As of the end of 2016, there are around 200 million cars on the road in China, and the the number is growing by 20 million new cars added per year.
"Yuanyu is the leading company in China's radio advertising industry. The company has high-quality radio resources, and its revenue and pr...
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