TVB(HK:00511) Nan Fang Du Shi Bao·2025-03-27 14:12Core Viewpoint - TVB demonstrates a strong recovery in its 2024 financial performance, with a notable increase in core television-related business revenue and a significant reduction in operational losses, indicating effective cost management and strategic focus on core operations [1][3]. Financial Performance - Total revenue for TVB in 2024 was HKD 32.58 billion, a decrease of 2% year-on-year, while core television-related business revenue increased by 10% to HKD 31.31 billion, driven by a 17% growth in both Hong Kong and mainland China segments [1][3]. - Shareholder losses narrowed by 35.6% to HKD 4.91 billion, with a positive EBITDA of HKD 2.95 billion, reversing the previous year's EBITDA loss of HKD 1.4 billion [1]. Revenue Drivers - The Hong Kong advertising market revenue grew by 17%, with traditional television advertising revenue increasing by 14%, expanding TVB's market share from 75% to 83% [3]. - Digital media revenue saw a 30% increase, with myTV SUPER streaming service contributing significantly, and average monthly active users for digital media platforms rose by 81% to 23 million [3]. - The mainland co-production drama business became a core driver, with revenue surging by 69% due to partnerships with platforms like Youku and Tencent Video [3]. Cost Management - TVB successfully reduced total operational costs by 15% to HKD 32.79 billion through content production streamlining and indirect cost reductions [5]. - The merger of J2 and the wireless finance and sports information channel into the new TVB Plus channel contributed to lower content costs [5]. Talent Management - TVB's approach to talent management is evolving, encouraging artists to explore external opportunities while continuing to support those suitable for the TVB platform [6]. - The company plans to produce seven co-productions in 2025, focusing on quality over quantity to create hit dramas [6]. AI Integration - AI has been integrated into TVB's operations, enhancing content creation and production processes, with plans for more AI-driven programs in the upcoming year [8]. - The current use of AI is primarily supportive, aimed at streamlining production workflows, with ongoing internal testing showing positive results [8].