NET EASE becomes Internet sponsor of the 2010 Asian Games 04/09/2008 |
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The Nasdaq-listed company, which signed an agreement with Guangzhou Asian Games Organizing Committee yesterday, will make full use of the "sponsor" title to boost its online advertising income. NetEase said it will include providing portal Website services to the Asian Games and content to net users and building up the Asian Games brand.
"The total amount of capital NetEase has to pump in to provide services for the Asian Games is hard to estimate," said William Ding, chief executive officer and director of NetEase. He refused to forecast the firm's profit from the sponsorship of the Games.
Guangzhou Automobile Group Co Ltd, which has also signed with the Games organizing committee last month to become its first senior partner, will provide 600 million yuan (US$87.5 million) to support the event. This also marks as the highest single amount of sponsorship since the Asian Games was started.
The Guangzhou Municipal government plans to invest a total of over 220 billion yuan from 2005 through 2010 to ensure a smooth Games.
NetEase's report for the second quarter this year showed 83 percent of its total revenue came from online games while ad services provided only 14 percent.
(Source: GAGOC)
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