Impact of TVB boycotts 'limited'

Business | Stella Zhai 28 May 2020

Television Broadcasts (0511) chief executive Mark Lee Po-on said netizens urging brands to boycott TVB has had a limited impact on its advertising revenue, as the company has a 85 percent market share in the local free TV advertising market.

Lee said advertising revenue fell in the first half this year due to the coronavirus outbreak, compared with a normal base last year, while the proportion of advertising revenue fell to 53 percent last year.

Lee expected the impact from the pandemic would not last for long and added that TVB has no lay-off plan.

He described TVB's investment in SMI Holdings' (0198) bonds as a "wrong choice," and added that he believed the company has no intention of investing in non-core businesses.

Shares of TVB fell 2.34 percent to HK$10.02 yesterday.

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