Group 1 - TVB has announced collaborations with Tencent, Huawei, and iFlytek to expand its business in the mainland market, focusing on film production, music creation, and AI technology [1] - The strategic partnership between TVB and Tencent includes a memorandum for joint production of TV series, aiming to create content with both artistic value and market potential [1] - Two major projects announced for collaboration are the classic martial arts series "The Smiling, Proud Wanderer" and the urban emotional drama "Rose War" [1] Group 2 - TVB's revenue from mainland operations increased by 17% year-on-year to 851 million yuan, primarily driven by co-production projects with partners like Youku and Tencent Video [2] - "News Queen 2" is expected to be broadcast this year [2] - TVB anticipates continued growth in EBITDA for 2025, projecting a positive net profit attributable to shareholders for the full year [2]

Core Viewpoint - TVB has announced a strategic partnership with Tencent, Huawei, and iFlytek to expand its business in the mainland market, focusing on film and television production, music creation, and AI technology development [1][8]. Group 1: Strategic Partnerships - TVB has signed a memorandum of cooperation with Tencent Video to jointly produce television series, marking a significant collaboration between the two content production platforms [8]. - The partnership aims to create projects with both artistic value and market potential, with two key projects announced: the classic martial arts series "The Smiling, Proud Wanderer" and the urban emotional drama "Rose War" [8]. - TVB is also collaborating with Huawei and iFlytek to develop advanced technologies such as ultra-high-definition broadcasting and intelligent dubbing, promoting the digital transformation of the broadcasting and television industry [8]. Group 2: Business Performance - In the 2024 fiscal year, TVB reported a revenue of HKD 3.258 billion, a decrease of 2% year-on-year, while the loss attributable to shareholders narrowed significantly from HKD 763 million to HKD 491 million, a reduction of 35.63% [9][10]. - The revenue from mainland operations increased by 17% to HKD 851 million, primarily driven by co-production projects with mainland video platforms like Youku and Tencent Video [10]. - TVB anticipates that its EBITDA will continue to rise in 2025, projecting a return to positive net profit for shareholders [10]. Group 3: Industry Trends - TVB's strategy reflects a focus on strengthening collaborations with mainland partners and diversifying its business operations, including participation in variety shows and live streaming [4][9]. - The company has established a model for co-production that integrates a significant number of mainland professionals, with an average of 300-350 crew members involved in each co-production project [9].

Core Viewpoint - TVB is attempting to revitalize its brand and audience engagement through innovative live streaming collaborations, particularly with Douyin, to attract younger viewers and address declining revenues [14][21][22]. Group 1: TVB's Current Situation - TVB has faced continuous profit declines since 2014, with significant losses reported in 2018, primarily due to shrinking advertising revenues [16]. - The rise of streaming platforms like iQIYI and Tencent Video has diversified content consumption, drawing younger audiences away from traditional TV [16]. - Internal challenges include negative press regarding low artist salaries and management issues, leading to talent drain as many artists seek opportunities elsewhere [16][17]. Group 2: Live Streaming Initiative - The recent live streaming event, "Tonight's Good Sharp," featured a "TVB male idol group" and utilized a fan interaction format, achieving over 19 million views and 35 million likes [11][14]. - The event successfully combined nostalgia for classic Hong Kong dramas with modern entertainment trends, appealing to both older and younger demographics [20][21]. - TVB's collaboration with Douyin has resulted in over 2.3 million followers for the official account, indicating a positive shift towards a younger audience [21]. Group 3: Future Prospects - The success of the live streaming initiative suggests that TVB's intellectual property remains valuable, and its veteran stars still possess significant appeal [21]. - The company is exploring new content presentation methods and engaging with younger audiences, which could pave the way for a brand rejuvenation [21][22]. - However, challenges remain in sustaining quality content, innovating revenue models, and developing a robust talent pipeline to ensure long-term success [21].

Core Viewpoint - TVB is facing significant challenges as it transitions from a period of prosperity to decline, with its traditional programming losing influence and viewership, leading to a search for new revenue streams such as group broadcasting [4][14]. Group 1: TVB's Current Situation - TVB has experienced a continuous decline in profitability since 2014, culminating in a loss of HKD 4.91 billion in 2024, marking seven consecutive years of losses [4][11]. - The company has attempted various self-rescue strategies, including partnerships with mainland Chinese platforms and the introduction of new programming formats [4][6]. - Despite some successes in collaboration with mainland platforms, the overall impact on TVB's core business remains limited, and the influence of Hong Kong dramas continues to wane [6][10]. Group 2: Group Broadcasting as a Strategy - Group broadcasting, a new form of live streaming featuring multiple hosts, is being explored by TVB as a potential revenue source, leveraging the popularity of its veteran actors [8][10]. - While group broadcasting has attracted attention and generated viewer engagement, it risks damaging the actors' reputations and does not address the fundamental issues facing TVB's traditional programming [10][12]. Group 3: Future Outlook - TVB is optimistic about the potential for recovery in 2025, projecting a significant increase in EBITDA compared to 2024, with hopes of returning to profitability [11][12]. - However, the company faces several challenges, including a weak advertising market, underperformance of its OTT streaming services, and uncertainty in the co-production market with mainland China [11][12][14]. - The success of TVB's recovery efforts will largely depend on the performance of its co-produced dramas and the ability to regain its competitive edge in content production [14].

Financial Performance - The company reported a total revenue of HKD 3,258 million for 2024, a decrease of 2% compared to HKD 3,323 million in 2023[2]. - The electronic commerce business revenue dropped significantly by 74%, from HKD 486 million in 2023 to HKD 127 million in 2024[2]. - The total assets decreased by 13% from HKD 6,249 million in 2023 to HKD 5,446 million in 2024[2]. - The company experienced a 36% reduction in shareholder losses, from HKD 763 million in 2023 to HKD 491 million in 2024[2]. - The total expenses decreased by 15% from HKD 3,844 million in 2023 to HKD 3,279 million in 2024, reflecting cost management efforts[2]. - In 2024, the company achieved a positive EBITDA of HKD 295 million, marking a significant breakthrough after several years of challenging operations[62]. - The company recorded a net profit attributable to shareholders of HKD 53 million in the second half of 2024, excluding any non-recurring items, representing an important milestone in its recovery and transformation journey[62]. - The segment revenue for Hong Kong Television Broadcasting increased by 17% year-on-year to HKD 1.638 billion, driven by a 14% growth in advertising revenue from free-to-air channels despite a weak overall advertising market[73]. - The segment EBITDA turned from a loss of HKD 272 million in 2023 to a profit of HKD 110 million in 2024, benefiting from revenue growth and cost reduction efforts[73]. - The company achieved significant recognition at the 2024 Asia Content Awards, with "News Queen" winning multiple awards including Best Actress and Best Supporting Actress[28]. User Engagement and Digital Presence - MyTV SUPER has reached 10.8 million users, with 2 million monthly active users, showcasing strong user engagement[3]. - The company has over 64 million followers across various social media platforms, indicating a robust online presence[3]. - The company conducted over 1,280 live streaming sessions on Douyin and Taobao, attracting 264 million views, highlighting its effective e-commerce strategy[3]. - The average weekly reach of self-operated digital terrestrial television channels was 15 million viewers, with a prime time average rating of 21.02 points, capturing 79% of the total audience share[78]. - The new TVB Plus channel launched on channel 82 combines traditional TV programming with digital platforms, enhancing viewer engagement and experience[79]. - The myTV SUPER app has achieved a total of 420,000 downloads, indicating that viewers primarily watch content on large-screen televisions[134]. - The company continues to enhance its digital content integration, providing a more immersive viewing experience for audiences[113]. Content Production and Awards - The company received multiple awards for its productions, including "Best Actress" for the series "News Queen" at the 29th Asian Television Awards[24]. - The company is committed to developing new technologies and content to adapt to changing viewer preferences[22]. - The program "News Perspective: Let Me Breathe for Two Hours" won the Best Current Affairs Program award in the Asian specific market[29]. - "News Queen" also won the Global Best Series award and Sheren Tang was recognized as the Global Best Actress[36]. - The company received accolades for its innovative programming and creative industry contributions at the 15th Macau International Television Festival[39]. - The company continues to expand its market presence and enhance its content offerings through strategic awards recognition and program development[29]. - The company produced a special program to celebrate the 75th anniversary of the founding of the People's Republic of China, which attracted a large audience and enhanced national pride[128]. - The documentary series "The Endless Road" has completed its fourth season, showcasing significant developments along the Belt and Road Initiative[129]. Strategic Partnerships and Market Expansion - The company has entered into strategic partnerships with Youku and Tencent for co-production and distribution of programs[22]. - The company aims to expand its market presence through acquisitions and partnerships in the entertainment sector[21]. - The partnership with Youku expanded to a total of nine co-produced dramas, including the highly anticipated "News Queen 2," set to begin filming in Q2 2025[157]. - Tencent Video has also increased its order to eight co-produced dramas, reflecting the popularity of Hong Kong dramas in mainland China[158]. - The company is focusing on closer integration of e-commerce with its television channels to create sales conversion opportunities[149]. Challenges and Future Outlook - The company anticipates continued challenges in the retail environment in Hong Kong for 2024, despite cost-saving measures taken[200]. - The company has written off all goodwill and related intangible assets totaling HKD 94 million due to low recoverability in the current market environment[200]. - The cumulative expected credit loss provision for promissory notes increased to HKD 656 million from HKD 312 million in 2023 due to the assessment of ITT's repayment ability[198]. - The company is currently producing seven dramas at various stages, including "Justice Goddess" and "Couple's Game," to continue driving revenue growth from co-productions[167]. - The company plans to enhance digital advertising revenue and maintain a solid subscription revenue base by launching a new upgraded free service[146].

文 | 《 BUG 》栏目 徐苑蕾 2025 年对于 TVB 而言可谓多事之秋，多位资深艺人公开炮轰公司内部管理问题，将长期 积累的矛盾彻底暴露，最引人注目的是近期两位老戏骨的连续发声。 老牌演员鲁振顺在内部会议上向管理层大吐苦水，指出近年因不时裁节目致收入大减。他其 后接受媒体采访时表示，"我也要交租和正常生活，全职洗碗都比我钱多。" 曾经叱咤华语影视圈的 TVB （香港电视广播有限公司），如今正深陷艺人流失、业绩下滑 与转型困局的多重危机。 近日，有老牌演员公开控诉 TVB 收入微薄，直言"全职洗碗都比当演员赚得多"，也有演员 炮轰公司内部派系斗争激烈，犹如现实版《甄嬛传》。这些争议不仅暴露了 TVB 长期存在 的管理问题，更折射出香港影视行业的整体萎缩。 在此背景下，近年来， TVB 头部艺人加速离巢，包括多位"视帝""视后"相继出走，导致公 司核心人才断层。与此同时， TVB 业绩持续低迷， 2024 年营收仅 33.23 亿港元，较 2014 年巅峰时期缩水超 40% ，并已连续 7 年亏损，累计亏损额高达 34.84 亿港元。 为寻求新增长点， TVB 押注电商与直播带货，但效果不尽如人意。 20 ...

演员控诉收入低： "洗碗都比我钱多" 2025 年对于 TVB 而言可谓多事之秋，多位资深艺人公开炮轰公司内部管理问题，将长期 积累的矛盾彻底暴露，最引人注目的是近期两位老戏骨的连续发声。 老牌演员鲁振顺在内部会议上向管理层大吐苦水，指出近年因不时裁节目致收入大减。他其 后接受媒体采访时表示，"我也要交租和正常生活，全职洗碗都比我钱多。" 此番言论随后引发广泛关注。面对舆论压力， TVB 总经理曾志伟回应，"长江后浪推前 浪，公司尽力保留旧人，但艺人需接受现实。" 文 | 《 BUG 》栏目 徐苑蕾 曾经叱咤华语影视圈的 TVB （香港电视广播有限公司），如今正深陷艺人流失、业绩下滑 与转型困局的多重危机。 近日，有老牌演员公开控诉 TVB 收入微薄，直言"全职洗碗都比当演员赚得多"，也有演员 炮轰公司内部派系斗争激烈，犹如现实版《甄嬛传》。这些争议不仅暴露了 TVB 长期存在 的管理问题，更折射出香港影视行业的整体萎缩。 在此背景下，近年来， TVB 头部艺人加速离巢，包括多位"视帝""视后"相继出走，导致公 司核心人才断层。与此同时， TVB 业绩持续低迷， 2024 年营收仅 33.23 亿港元，较 2 ...

4月3日，TVB总经理（节目内容营运）曾志伟回应老戏骨鲁振顺称收入大减，诉求得到公平 对待。 曾志伟回应称，做艺人必定是长江后浪推前浪，能够保留多少旧人，其实TVB已经尽力做到 最好。曾志伟称，其实没有一位艺人可以做到老，希望TVB能够陪着大家成长，到大家觉得 需要离开，就离开。 6 7岁T V B老戏骨："洗碗都比我钱多" 此前，在TVB内部会议上， 鲁振顺 喊话高层希望得到公平对待。 "我也要交租和正常生活， 全职洗碗随时都比我钱多。 " 鲁 振 顺 说 ， 希 望 公 司 能 珍 惜 员 工 ， " 看 到 有 时 让 年 轻 演 员 扮 老 人 家 ， 为 何 不 找 老 人 一 辈 去 做 呢"。他透露，近日正与公司沟通续约，没打算离巢，"我今年6 7岁了，做生不如做熟"。 T V B不少艺人转行或做副业 今年3月3 1日，4 2岁香港女星陈思齐在短视频账号上宣布：决定在佛山摆摊卖鸡爪。陈思齐在 TVB期间，曾参演过《学警出更》《迎妻接福》《搜神传》《公主嫁到》等多部剧集，被称 为"TVB御用丫鬟"。 图 / 陈思齐剧照 陈 思 齐 还 与 前 TVB 艺 人 蔡 淇 俊 在 夜 市 摊 位 同 框 ...

Revenue Performance - The total revenue for the year ended December 31, 2024, decreased by HKD 65 million or 2% to HKD 3,258 million[2]. - Core television-related business revenue increased by HKD 294 million or 10% to HKD 3,131 million, driven by a 17% growth in both Hong Kong and mainland China segments[2]. - Overall revenue for the year decreased by 2% or HKD 65 million to HKD 3.258 billion[9]. - Revenue from the Hong Kong television broadcasting and mainland China business segments grew by 17% or HKD 241 million and HKD 122 million, respectively[9]. - Revenue from Hong Kong decreased to HKD 2,111,431 in 2024, down 5.9% from HKD 2,243,881 in 2023[60]. - Revenue from Mainland China increased to HKD 855,348, up 16.4% from HKD 734,720 in 2023[60]. Profitability and Loss - The company achieved a positive EBITDA of HKD 295 million, an improvement of HKD 435 million from a loss of HKD 140 million in the previous year[2]. - The loss attributable to shareholders significantly decreased by HKD 272 million to HKD 491 million, with an adjusted loss of HKD 88 million excluding non-recurring items[2]. - The net loss for the year was HKD 541,296,000, compared to a net loss of HKD 838,169,000 in the previous year, indicating an improvement of approximately 35.4%[42]. - The company reported a pre-tax loss of HKD 536,234 in 2024, an improvement from a loss of HKD 818,468 in 2023[58]. - The company reported a loss before tax of HKD 491,049,000 for the year ending December 31, 2024, compared to a loss of HKD 762,796,000 in 2023, resulting in a basic and diluted loss per share of HKD 1.09[66]. Cost Management - Total operating costs decreased by HKD 565 million or 15% to HKD 3,279 million due to streamlined content production and reduced indirect costs[4]. - Sales costs decreased by HKD 369 million or 16% to HKD 1.930 billion, primarily due to the reduction in the scale of the e-commerce business segment[9]. - The depreciation expense for the year was HKD 221,834,000, down from HKD 293,525,000 in 2023, indicating cost-saving measures[62]. Digital and Advertising Growth - The average monthly active users for digital assets in Hong Kong grew by 81% to over 23 million[4]. - The advertising revenue from the Hong Kong television broadcasting segment increased by 14%, with market share rising from 75% to 83%[4]. - The digital advertising revenue from the myTV SUPER streaming service is expected to continue strong growth in 2025 following the launch of a new ad-supported streaming service[6]. - The OTT streaming segment's revenue slightly decreased by HKD 11 million or 3% to HKD 345 million, while digital advertising revenue grew by 30%[16]. E-commerce Challenges - The e-commerce business segment's revenue plummeted by 74% or HKD 3.59 billion to HKD 127 million due to structural challenges in the retail market[18]. - E-commerce revenue decreased significantly to HKD 126,754,000 in 2024, down 85% from the historical high of HKD 862,595,000 achieved in 2022[69]. Financial Position - Total equity as of December 31, 2024, was HKD 2.196 billion, down from HKD 2.739 billion in the previous year, with unrestricted cash and bank balances at HKD 700 million[34]. - Total assets decreased to HKD 5,445,548,000 from HKD 6,249,129,000, a reduction of approximately 12.9%[44]. - The capital debt ratio increased to 66.7% as of December 31, 2024, compared to 59.0% as of December 31, 2023[36]. - The company’s cash and cash equivalents stood at HKD 647,324,000, down from HKD 658,832,000, a decrease of approximately 1.9%[44]. Impairments and Provisions - The group recorded an impairment loss of HKD 85 million related to goodwill and HKD 9 million for intangible assets due to a challenging retail environment[26]. - The expected credit loss rate for promissory notes increased to 77.6% from 39.4% year-on-year, leading to an additional provision of HKD 345 million[24]. - The company recognized an impairment loss of HKD 85,131,000 on goodwill, reflecting the low recoverability of the acquired goodwill value due to challenging market conditions[69]. Future Outlook - The company anticipates a significant increase in EBITDA for the year 2025, projecting a return to positive net profit attributable to shareholders[6]. - The company has seven co-produced dramas in various stages of production, which are expected to drive growth in the mainland China segment in 2025[6]. - The company anticipates significant EBITDA growth in 2025, with a positive net profit attributable to shareholders expected for the full year[14]. Corporate Governance - The company has adopted the revised Code of Conduct for securities trading by directors and senior management, confirming compliance for the year 2024[99]. - The Audit Committee has reviewed the accounting principles and practices adopted by the group, discussing financial reporting matters for the year ending December 31, 2024[100]. - The auditors, PwC, confirmed that the preliminary performance announcement aligns with the audited financial statements for the year ending December 31, 2024[101].

VB INTERIM REPORT 中期報告 2024 A .00 Television Broadcasts Limited 電視廣播有限公司 Stock Code 股份代號 : 00511 財務摘要 | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------|----------------------------------------|--------------------------|----------|------------------|--------------------------------------------------------------|----------------|--------| | | 按營運分部劃分的對外客戶收入 | | | | 截至六月三十日止六個月 \n二零二四年 | 二零二三年 | 變更 | | | 二零二三年上半年的相關百分比以括號列示 | | | 表現 | | | | | 廣播 50% | 香港電視 (40%) | | | 每 股 虧損 | 港幣 (0.33) 元 | ...