Mandarin-Language Blog from Moguldom Media Group Taps Into China's Booming New Media Market
New York (PRWEB) October 9, 2007 -- Moguldom Media Group, an innovative new media company and investment firm, today announced the launch of MingXingYao.com, a blog covering both Chinese and American celebrities. The site builds on the proven business model of established Moguldom sites such as Bossip.com and Lossip.com, the top celebrity gossip blogs serving urban and Latin American consumers.
Published in Mandarin, MingXingYao.com is positioned to take advantage China's of rapid growth in both Internet usage and online ad spending. 137 million Chinese consumers were online at the end of 2006, and analysts expect the emerging economic giant to overtake the United States next year. Forecasts by Deutsche Bank call for online advertising in China to reach $1.79 billion in 2008, up from $731 million this year. The 2008 Olympic Games are expected to spur further growth; the Chinese Internet portals Sina and Sohu each pulled more than $5 million in ad revenue during this year's soccer World Cup.
As China moves online, MingXingYao.com will introduce its consumers to the engrossing world of celebrity gossip at Western levels of quality and production value, while providing advertisers with a highly engaged, largely untapped audience.
"Moguldom's expansion into China reflects our intention to be a global player in the new media space, and adds diversity and depth to our portfolio," said Marv Frazier, CEO, Moguldom Media Group. "Our bet on the Chinese market reflects our confidence that the best opportunities are often found in places most players neglect -- or fear -- to look."
Said Jasmine Lin, editor in chief for MingXingYao.com, "We're excited to take the Moguldom model overseas with MingXingYao, which is Mandarin for 'celebrity wanted.' For anyone who loves the Chinese entertainment industry as much as we do, MingXingYao will be a can't-miss place for the most up-to-date coverage of all the celebrity action." The site's editorial staff also includes Assistant Editor Suping Zhang.
About Moguldom Media Group
Moguldom Media Group is a new media company focused on niche demographic verticals. The company's new media portfolio includes Bossip.com, the leading celebrity gossip website serving African American consumers; Lossip.com, a similar website serving Latin American consumers; F-Listed, which covers general celebrity gossip with a unique edge and male sensibility; and MingXingYao.com, a Mandarin-language blog covering Chinese celebrities. All Moguldom Media Group properties benefit from a favorable online advertising environment, unique credibility within the communities it serves and strong strategic relationships.
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