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TVB Thinks Ecommerce Streams by Artists to be New Trend, Large Cooperation Room with Taobao
Recommend 36 Positive 79 Negative 20 2023/03/29 12:49
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TVB (00511.HK) had announced last year's results. Executive Chairman Thomas Hui said that the cooperation with Taobao in e-commerce streaming is still in the early stage, and therefore it is difficult to judge precisely the impact on the Group's finances. But he thought there is a lot of room for development due to the strong demand in mainland, large number of artists and IPs under TVB, and advertising implantation to its programs. He pointed out that the revenue from the partnership is similar to that in the Mainland, mainly through artist revenue, commissions, and GMV from product sales. General Manager (Programme Content Operations), Eric Tsang said that since last year, there has been a new model of cooperation with the Mainland because of the large market in China and the high standard and budget. As TVB's participation in the cooperation is deeper, there is also a higher share of advertising revenue. Tsang said that in the future, TVB will cooperate with different short video platforms, such as Douyin and KUAISHOU-W (01024.HK). TVB is mainly involved in production, while the platforms will be responsible for merchandising. He said that he is working with the platforms to identify new models of cooperation, and he believed that artistes doing e-commerce streams will be a new trend, and believed that there will be more cooperation in different models in the future. Tsang also mentioned that TVB will neither sacrifice quality to reduce costs, nor will it reduce the number of hours of production. The Group will work with different media platforms to share technology and increase quality in order to reduce costs. AAStocks Financial News |
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