China: highest-earning online ad companies 2022

When it comes to online advertising in China, one must know the largest platforms - Alibaba, Pinduoduo, and Tencent. With a total revenue of 294 billion yuan in advertising and other client management services in the fiscal year 2022, the e-commerce giant Alibaba ranked first in online ad revenue among other internet companies in China.

Leading internet companies in China in 2022, by online advertising revenue (in billion yuan)

Characteristic	Ad revenue in billion yuan
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Release date

April 2023

More information

Region

China

Survey time period

2022

Supplementary notes

*Alibaba reports its annual results in March each year. The ad revenue here was shown as client management revenue from March 2022 to March 2023. Since September 2020, Alibaba has included the commission revenue as a part of its client management revenue.

**The ad revenue of iQIYI was excluded in Baidu's figure;
For Pinduoduo, the figure referred to the online ad and other revenues.
For JD.com, the figure included commission and marketing service revenue whereas advertising accounted for a major part;
For VIP.com, the figure was taken out from the other revenue segment which included product promotion, online ads, rental and third party logistics revenue, and fees charged from third party merchants.

One yuan equals approximately 0.14 U.S. dollars and 0.13 euros (as of May 2023).

Only companies which have included advertising and marketing as a part of the main business development and have disclosed the relevant revenue clearly in the financial reports are listed in this ranking.

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