TVB's Losses Drop 65% as Hong Kong Broadcasting Rebounds Amid Social Unrest

Wednesday, 21 August 2024, 11:04

Losses at TVB dropped 65% year on year to HK$143 million, reflecting a recovery in TV broadcasting. This improvement comes despite the impact of the 2019 anti-government protests in Hong Kong. A notable increase in advertising revenue and strategic partnerships with Youku and Alibaba Group helped push growth during this turbulent period.
South China Morning Post
TVB's Losses Drop 65% as Hong Kong Broadcasting Rebounds Amid Social Unrest

TVB's Financial Overview

Hong Kong's leading free-to-air broadcaster, TVB, reported a significant drop in net losses, falling 65% year on year to HK$143 million (US$18.3 million) for the first half of the year. This improvement marks the company's recovery trajectory despite ongoing challenges stemming from the 2019 anti-government protests.

Revenue Growth Factors

  • Total revenue (excluding e-commerce) grew by 12% to HK$1.45 billion.
  • Strong boost of 20% in Hong Kong TV broadcasting revenue.
  • Advertising income surged by 21%, fueling overall revenue.

TVB's mainland operations also thrived, experiencing a 22% revenue increase, predominantly in drama co-production ventures.

Cost Management and Positive Ebitda

  1. Operating costs reduced by HK$305 million (16% year on year) to HK$1.62 billion.
  2. Achieved positive Ebitda of HK$47 million, compared to an Ebitda loss of HK$186 million last year.

This marks a return to profitability in terms of Ebitda for the first time since 2019. The company remains focused on overcoming the challenges imposed by recent social unrest and declining viewer numbers.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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