Tony Chen, president of the China arm of GroupM Interaction, said he expects some streaming-video sites to close their doors.

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The Chinese Millionaire Wealth Report 2012, put together by GroupM and the Hurun Report, found that there are now a million millionaires in China.

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Unilever's account is handled, for example, by no fewer than 47 WPP firms, from GroupM (media buying advice and execution) to OgilvyOne Worldwide (digital marketing) to Burson-Marsteller (public relations).

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"The costs per thousand are out of whack, " said George Janson, director of print for GroupM, a subsidiary of advertising agency giant WPP, whose clients include Ikea, Mars Inc.

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