TVB(HK:00511)2022-04-19 08:39Financial Performance - TVB reported a total revenue of HKD 2,899 million for the year, representing a 6% increase from HKD 2,724 million in the previous year[8]. - The company reported a loss attributable to shareholders of HKD 647 million, a 130% increase from a loss of HKD 281 million in the previous year[8]. - The total assets of the company decreased by 22% to HKD 7,650 million from HKD 9,832 million[8]. - TVB's EBITDA for the Hong Kong segment was reported at HKD 570 million, a decrease of 4% from HKD 548 million in the previous year[8]. - The company reported a shareholder loss of HKD 647 million for the fiscal year ending December 31, 2021, marking the fourth consecutive year of annual losses[88]. - The company's advertising revenue was pressured due to cautious business operations from local enterprises, impacting the performance of its myTV SUPER streaming service[88]. - International business revenue declined due to reduced distribution income from traditional pay-TV partners in Malaysia and Singapore[88]. - Joint production income decreased as the progress of co-produced series was delayed due to the pandemic, affecting revenue from mainland China[88]. - The company faced significant challenges in maintaining operations during the COVID-19 pandemic, which severely impacted the local economy[88]. - The company is focusing on expanding its market presence and enhancing its content offerings to recover from the financial setbacks[88]. - The performance of the advertising business is critical for the company's recovery strategy moving forward[88]. Revenue Sources - The company experienced a significant increase in revenue from its mainland China operations, which rose by 721% to HKD 238 million from HKD 29.7 million[8]. - OTT streaming revenue accounted for 13% of total revenue, down from 15% in the previous year[8]. - The average order value for home delivery orders in the e-commerce segment was HKD 800, with total merchandise transaction value reaching HKD 593 million[12]. - The total revenue for the broadcasting segment grew by 13% to HKD 1,225 million, driven by the recovery of the local economy and new program launches[106]. - Advertising revenue increased by 16% year-on-year to HKD 1,024 million, despite a challenging market environment[93]. - The pharmaceutical and healthcare sector contributed the largest share of advertising revenue, with a 10% increase from an already substantial base[108]. - Revenue from the real estate sector surged by 56% in 2021, driven by both traditional and online agencies utilizing the ground platform for promotion[108]. - Advertising revenue from government departments and agencies rose by 41% in 2021, reflecting the need for effective public communication during the pandemic[108]. User Engagement and Audience Metrics - The number of registered users for myTV SUPER reached 9.9 million, with over 1 million paid subscribers[11]. - The average monthly active users for myTV SUPER were reported at 1.9 million, while the monthly active users for the YouTube channel reached 20.5 million[11]. - The average weekly viewership of the television channel reached 5.4 million in Hong Kong, demonstrating strong audience engagement[89]. - The total television audience in 2021 was 6,554,000 viewers, with 1 television rating point representing 65,540 viewers[84]. - Monthly active customer count increased from 11,000 to approximately 80,000, marking a growth of 627%[157]. - Monthly active users of the "埋堆堆" platform reached 5.6 million as of December 2021[172]. - Total downloads of the mobile and smart TV applications for "埋堆堆" reached 34 million[172]. - The number of followers on social media platforms, including Weibo and Douyin, exceeded 76 million[174]. Content and Programming - The company has implemented a programming strategy of airing 2.5 hours of continuous dramas during prime time on Jade Channel to boost viewership[55]. - The flagship channel, Jade Channel, maintained its position as the most popular channel in Hong Kong[116]. - In 2021, the company produced 22,958 hours of program content, a 5.7% increase from 21,712 hours in 2020[119]. - Program costs increased by 9% to HKD 1,498 million, reflecting the rise in production volume[119]. - The original drama series "The Unbreakable" achieved an average rating of 27.0 points, with a peak of 30.2 points during its finale[120]. - The company plans to launch several key programs in 2022, including "Voice of Dreams 2" and the 50th Miss Hong Kong Pageant, to attract advertisers[110]. - The program "2021 Hong Kong Miss Pageant" achieved a rating of 28.5 points, equivalent to nearly 1.9 million viewers[131]. - The new reality show "Good Voice, Good Drama" recorded high ratings and received positive online reviews[132]. - The documentary "Endless Road" received a score of 9.5 on Douban and was recognized as one of the top 20 outstanding overseas communication works of 2021 by the National Radio and Television Administration[133]. - The company introduced new programs covering finance, health, education, and the Greater Bay Area, enhancing its content offerings[136]. E-commerce and Digital Initiatives - The company acquired a 75% stake in a group that operates two growing e-commerce platforms[42]. - The e-commerce business, bolstered by the acquisition of the Store Group, is expected to drive significant revenue growth[153]. - The estimated annual gross merchandise value of the e-commerce business surged from HKD 142 million to HKD 593 million, representing an increase of over 318%[157]. - Monthly order transaction value for Big Big Shop reached HKD 57 million, up from HKD 8 million, reflecting a growth of over 613%[157]. - Average daily order quantity rose to 5,539, compared to 449 in the previous year, an increase of over 1,134%[157]. - The company aims to further integrate e-commerce elements into its programming to leverage strategic benefits from recent acquisitions[93]. - The company plans to expand its e-commerce services to mainland China through cross-border live streaming in 2022[161]. - The company is leveraging various advertising methods, including product placements in popular TV shows, to promote e-commerce offerings[158]. Strategic Partnerships and Acquisitions - The company holds a 11.98% stake in Shaw Brothers Holdings (stock code: 00953) for film production and investment purposes[34]. - The company partnered with a Chinese cultural industry investment fund to enhance its film production capabilities[34]. - The company has partnered with Imagine Tiger Television to produce content for the US and international markets, with a 50% stake held by both parties[194]. Digital Transformation and Anti-Piracy Measures - The company developed a new media advertising intelligence platform to improve ad distribution and enhance value for advertisers[141]. - The official website and online video platform traffic increased by approximately 13% due to comprehensive anti-piracy measures implemented by TVB[194]. - In 2021, TVB successfully blocked 195 piracy websites and domains, resulting in an 84% drop in traffic from these sites[194]. - TVB Anywhere's total user base grew by 39% to approximately 9 million, up from 6.5 million in 2020[188]. - YouTube subscribers increased by 45% to over 7.5 million, with monthly active users rising 65% to 20.5 million[189]. - The company plans to enhance digital content production and acquire more third-party content to enrich programming[190].