TVB’s ad income up 31% as H1 losses narrow to HK$284m | WARC | The Feed
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TVB’s ad income up 31% as H1 losses narrow to HK$284m
TV channels, services, programmes Hong Kong (SAR)
Hong Kong television broadcasting company TVB’s advertising income in the first half of 2021 improved while losses narrowed, amid encouraging signs that a return to growth is in sight.
Why it matters
COVID-19 travel restrictions to and from mainland China may have affected TVB’s program co-production business and reduced total revenue from China, but the company expects to scale up its e-commerce business by over four times gross merchandise volume (GMV) after acquiring two e-commerce platforms because of an enlarged customer base, increased promotions and livestreaming e-commerce on TVB’s channels and platforms.
- TVB’s H1 ad income from HK TV broadcasting posted a 31% increase to HK$460m, from HK$351m previously.
- Its OTT platform’s registered users grew 11% from 8.6 million to 9.5 million as of June 30, 2021.
- Subscription revenue rose 8% to HK$157m on average revenue per user (ARPU) growth from increase in subscribers.
- The company is encouraged by advertisers’ reception to the Olympics, Stars Academy series and the consumption voucher scheme.
- TVB and Shaw Brothers Holdings will acquire 75% of Ztore, an owner and operator of e-commerce platforms.
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