China Online Advertising > TV (2015)... Online > 42% Total Ad Spend vs. 39% in USA China Annual Advertising Spend by Medium, 2007 – 2016E $50 50% ) B $ $40 40% nd nd ( pe S pe d S A $30 30% l ng a i ot s T i t r of e $20 20% dv % A t l ne r e nnua $10 10% nt A I na hi C $0 0% 2007 2008 2009 2010 2011 2012 2013 2014 2015E 2016E Internet TV Outdoor Print Radio Internet % of Total Source: GroupM China, April 2016 Forecast. Assume constant FX 1USD = 6.5RMB. USA advertising share data excludes out-of-home, video game, and cinema. KPCB INTERNET TRENDS 2016 | PAGE Hillhouse Capital 169