PCCW Reportedly Launched New Entity To Manage ViuTV’s Production And Artist Management
PCCW reportedly created a new division to take over the production and artist management activities of its free-to-air television division ViuTV, and appointed ViuTV director and general manager Lo Ting-fai as CEO of the new company. According to several reports, Lo will lead the new self-funded company that will not only manage the production and management of artists, but also explore more opportunities in overseas markets. In addition, PCCW is also said to have appointed former TVB general manager Cheong Shin Keong as the main consultant. PCCW said that Cheong will offer ideas and solutions to the company based on its business and growth.
ViuTV’s activity is growing. According to the announcement of PCCW’s interim results for the six months ended June 30, 2021, ViuTV’s advertising business flourished in the first half of 2021, with additional spending from new and existing advertisers attributable to the company’s local content and the growing popularity of his talents such as MIRROR. . As a result, advertising revenue increased 66% to HK $ 188 million. PCCW added that its artist and event management business has also benefited from the increase in viewership, while MIRROR gave sold-out concerts earlier this year and band members performed in international brand advertisements. Overall, Free TV and related activities nearly doubled its revenue to HK $ 256 million.
Business expansion and increased revenue helped reduce EBITDA loss of free-to-air TV and related activities from HK $ 95 million for the first half of 2020 to HK $ 44 million for the first semester 2021. The company is expected to be on track to achieve profitability in the near future.
Reviewing its success, PCCW attributed the growth of ViuTV to broadcasting the Tokyo 2020 Olympics complemented by a range of team play programs to further increase audience and monetization. Going forward, PCCW will continue to offer unique local content to maintain the growth momentum, for example, the recent broadcast of Love Ossan (HK version) was a huge success and received overwhelming responses from the Hong Kong community.
Meanwhile, ViuTV’s sister company Now TV is set to announce a deal to bring the FIA Formula 1 World Championship to Now TV viewers in Hong Kong for the 2021 and 2022 seasons. Now TV has started. to introduce F1 to fans in Hong Kong last month, starting with the 2021 Heineken Formula 1 Dutch Grand Prix on September 5.
“F1 is one of the most watched sporting events in Hong Kong. We are very happy to have entered into a broadcast deal with Formula 1, allowing fans to continue enjoying this world-class racing event for the next two seasons. F1 not only enriches our range of premium sports content, but also meets the needs of customers who want to watch different sporting events. To increase the appeal to Hong Kong F1 fans, we will improve the Cantonese commentary, ”said Derek Choi, Head of Pay TV, HKT.
Now TV also recently signed an agreement with the UFC (Ultimate Fighting Championship). Now TV plans to broadcast 42 live events per year, which consist of 30 UFC Fight Nights to be broadcast on Now Sports Plus (Channel 680) and 12 UFC numbered events to be broadcast on Now Sports 5 (Channel 635). Subscribers will be able to watch the action via Now TV’s on-demand service. Other magazine programs, including Dana White’s Contender Series, UFC Connected and UFC Countdown, will also be made available to UFC fans.
Courtesy of Sino Group
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