As of September 30, 2007, the total installed base of LCD displays in our commercial location network was 95,398 nationwide, including 90,375 displays through our directly owned networks, and 5,023 displays through our regional distributors.
In the third quarter of 2007, we continued to expand the installed base of our hypermarkets to 1,266 stores as of September 30, 2007 from 1,205 hypermarkets as of June 30, 2007. Our in-store network also covers 695 supermarkets and 2,080 convenience stores as of September 30, 2007.
The number of displays installed in our in-store network increased to 43,315 as of September 30, 2007 compared to 41,322 as of June 30, 2007.
So they are seeing massive growth. But are they making any money?
Our total digital out-of-home advertising revenue was $94.7 million in the third quarter of 2007, an increase of 66.1% from $57.0 million in the third quarter of 2006 and a sequential increase of 23.3% from $76.9 million in the second quarter of 2007.
Well, all right then …
I have never been over there, so don’t really know. But I do get the sense China is a pretty unique marketplace in which a handful of companies have been able to establish a massive footprint quickly. It’s pretty impressive stuff, but nothing I see being replicated here. There’s already too many players in for someone to just grab the space.