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10 September 2021
TVB’s ad income up 31% as H1 losses narrow to HK$284m
TV channels, services, programmesHong 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.