TVB(HK:00511)2023-04-20 08:33Financial Performance - The electronic commerce revenue for the year 2022 was HKD 863 million, a significant increase of 263% compared to HKD 238 million in the previous year[5]. - The total value of goods traded reached HKD 934 million, up 58% from the annualized total of HKD 593 million last year[5]. - The EBITDA for the broadcasting segment increased by 78% to HKD 66 million from HKD 37 million in the previous year[3]. - The company achieved a 24% increase in total revenue from Hong Kong operations, amounting to HKD 3,586 million compared to HKD 2,899 million in the previous year[35]. - The total assets decreased by 8% to HKD 7,045 million from HKD 7,650 million in the previous year[35]. - The company's segment revenue increased by 6% from HKD 12.25 billion in 2021 to HKD 12.94 billion in 2022[114]. - Revenue from advertising clients grew by 3% to HKD 11.78 billion in 2022, up from HKD 11.41 billion in 2021, driven by demand from pharmaceutical and healthcare companies[115]. - The company reported an EBITDA loss of HKD 338 million and a net loss attributable to shareholders of HKD 807 million for the year[131]. - The myTV SUPER streaming service generated revenue of HKD 349 million in 2022, a decrease of 5% compared to 2021 due to the suspension of several premium sports channels[166]. - The total program cost for producing 22,700 hours of content in 2022 was HKD 1.457 billion, down from HKD 1.498 billion in 2021[170]. User Engagement and Audience Metrics - The average monthly active users for myTV SUPER reached 2.5 million[27]. - myTV SUPER has 10.4 million registered users[40]. - TVB Anywhere has 12.3 million registered users, while the YouTube channel has 28.6 million monthly active users[41]. - TVB has a 82% audience share among viewers under 35 years old and 83% among high-income viewers[38]. - The highest live viewership rating for the "TVB Anniversary Gala" reached 25.7 points, indicating strong audience engagement[106]. - The average viewership rating during prime time for the five terrestrial channels was 24.1 points, capturing 77% of the audience share in Hong Kong[129]. - The flagship channel Jade Channel achieved a viewership rating of 18.2 points, while J2, News Channel, Pearl Channel, and Finance and Sports Information Channel recorded ratings of 1.9, 2.3, 0.7, and 1.0 points respectively[141]. - The number of viewers for the news channel increased from 3.8 million to 3.9 million, with daily viewers rising by 6% to 2.17 million and average daily viewing time increasing by 14% to 84 minutes[186]. Strategic Initiatives and Partnerships - The company signed an agreement with Youku to provide co-produced dramas worth approximately RMB 700 million over the next two years[6]. - The company plans to expand its electronic commerce services to mainland China through cross-border live streaming[20]. - The company is involved in a joint venture with Imagine to produce American dramas[71]. - TVB's strategic partnership with Imagine to produce American dramas marks a significant expansion in content offerings[73]. - The company is expanding its digital business through OTT, social media, and e-commerce initiatives in Hong Kong[110]. - The company plans to expand its co-production variety shows and multi-channel network businesses in mainland China[110]. - The company aims to leverage its core strengths in content creation to provide diverse experiences for global audiences in the evolving entertainment landscape[111]. - The company is focusing on innovative content to attract and retain paid subscribers, showcasing popular titles such as "家族榮耀" and "尚食" in 2022[167]. Content Production and Programming - The company produced and aired various programs celebrating the 25th anniversary of Hong Kong's return to China, including "香港25個第一" and "回歸25周年財經大事回顧"[153]. - The original drama series remains a key program, attracting family audiences during prime time on the flagship Jade channel[171]. - The documentary "無窮之路" series won the "Influential Work" award at the 2022 Weibo Vision Conference, highlighting its impact[157]. - The special series "Return of Light and Shadow" aired in July 2022 to celebrate the 25th anniversary of Hong Kong's return, featuring five independent stories and a 15-episode drama, resonating strongly with the audience[177]. - The singing program "Voice of Life" produced in collaboration with Mango TV became one of the highest-rated shows in China in 2022, showcasing a mix of established and new artists[179]. - The anniversary gala attracted over 700 performers and achieved a viewership rating of 24.9 points, capturing 88% of the audience share among all channels airing the same program[179][180]. E-commerce and Digital Expansion - The company acquired a 75% stake in a grocery group operating two e-commerce platforms[54]. - The company is expanding its e-commerce business through live streaming on Douyin[55]. - Monthly order transaction value for e-commerce reached HKD 66 million in December 2022, a 16% increase from HKD 57 million in December 2021[198]. - The average daily order quantity rose by 35% from 5,539 to 7,475, while the number of active customers increased by 24% from 80,000 to 99,000[198]. - The average order value for delivery was HKD 831, while for self-pickup it was HKD 137, reflecting a shift in consumer behavior[198]. - The company plans to leverage high viewership from popular programs to promote its e-commerce platform, driving explosive sales of high-demand products[200]. Cost Management and Operational Strategy - A cost optimization plan was initiated, aiming to save over HKD 260 million in cash expenditures annually by adjusting content production schedules and terminating underperforming programs[132]. - The EBITDA for the segment improved by 15%, from a loss of HKD 6.04 billion in 2021 to a loss of HKD 5.14 billion in 2022[116]. - The company exited its Taiwan business through two transactions completed in early 2016, refocusing its operational strategy[73].