TVB is back in the black

Television Broadcasts (0511) expects to record a net profit, excluding extraordinary one-off items, for the second half of last year partly due to “strong” advertising income.

It also expects to book earnings before interest, taxes, depreciation and amortization for last year, according to a filing on Thursday.

Overall income from advertisers rose by over 10 percent last quarter from a year earlier, leading to double-digit growth in advertising income for 2024, the filing said.

The broadcaster expects its income to grow further this year as it continues to bring back more large corporate advertisers to its TV platforms.

It had around 2 million average monthly active users across all its over-the-top streaming services, the firm said, adding that the number of subscribers of its premium subscription service saw a 6 percent year-on-year increase last year.

STAFF REPORTER