Shanghai Media Group (SMG) is one of China’s largest state-owned media and entertainment groups, with a diverse portfolio of assets including radio and television networks, newspapers and magazines, drama production and distribution companies, streaming firms, e-commerce, tourism and more. The company was established in 2001 following the merger of the People’s Radio Station of Shanghai, East Radio Shanghai, Shanghai City Television and Oriental Television. Additionally, the company owns Yicai Media Group, a financial arm that operates a television channel and print publications.
Media assets
Television: Dragon Television, Shanghai Television, China Business Network, Great Sports, Docu TV, International Channel Shanghai, Oriental CJ, Haha Toonmax
Radio: Shanghai News Radio, Shanghai Jiaotong Guangbo, Dong Guang Xinwen Tai, Dong Fang Dushi Guangbo, Popular Music, Love Music, Classical 94.7, Story Channel, Marine Channel, Sports Channel, Western Pop Music
Conglomerate: Yicai Media Group (Television: Yicai TV; Publishing: China Business News, CBN Weekly)
State Media Matrix Typology: Captured Public/State-Managed (CaPu)
Ownership and governance
SMG is a corporation owned by the municipal government of Shanghai. According to data collected from local sources by journalists and experts interviewed for this report in March 2024, the company is registered as a state-owned limited liability company. In 2015, the online retail giant Alibaba acquired a minority stake in SMG’s financial arm.
Source of funding and budget
As one of the largest media conglomerates in China, SMG generates the majority of its revenues through advertising and other commercial sources. The latest data available to our local experts and journalists interviewed for this report in March 2024 indicates that 85% of SMG’s total revenues are derived from advertising.
In the first half of 2023, SMG reported a 15% year-on-year increase in income, reaching a total of CNY 5.322bn (US$ 729m), according to data provided by the company.
Editorial independence
While SMG is a commercial entity, its media outlets are subject to stringent editorial oversight by the government. SMG is required to adhere to editorial directives set forth by Chinese state propaganda organizations, and its programs must be approved by the General Administration of Press and Publication prior to broadcast.
There is currently no legislation in place, nor an independent assessment or oversight mechanism, to validate the independence of the media outlets run by SMG.
September 2024