Government and House Ads Dominating MTR Ad Space?

I was being told yesterday that most (if not, half) of the Hong Kong MTR ad slots are occupied by Government ads and MTR house ads. So this morning I took the MTR and experience myself. Interestingly, my friend is right. Immediately walking into the station and up the escalator, 4 out of 10 of the side ads are government ads and MTR house ads.

and then walking into the platform, again 4 out of 10 billboards across the rail track are MTR ads, Government ads, and few Charity, NGO related ads.

makes you wonder, where have all the main stream advertisers gone? my assumptions:

- it's January, time of year that's most quiet

- MTR has a commitment with the Government to reserve certain ad space for them

- economy hasn't really picked up yet

- all went to print or online (less likely...)

just an interesting observation that's all.