ATV Desperately Trying to Recover With Discounted Ads

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Above: ATV executive director, Ip Ka Bo, reveals the station is trying all means possible to pay its staff their wages.

Struggling with financial problems and on the brink of collapse, ATV announced that it plans to sell discounted television advertisement packages. The station will offer advertisement spots on TV for an all-time low of $500 HKD for five seconds of commercial time. The longer the advertisement, the steeper the discount.

Before hitting its financial slump, ATV charged a five-figure sum for a 30-second commercial. On the other hand, a primetime ad on TVB can cost from $80,000 HKD to well over $100,000 HKD for a 30 second spot.

ATV spokesperson Wong Sau Tung (黃守東) confirmed that while ATV plans to release discounted ad packages, the proposal is currently in its planning stages and will need to conform to Hong Kong’s Broadcasting Ordinance.

In addition to the steeply discounted TV spots, ATV also attempted to improve its financial condition by teaming up with a Mainland Chinese travel agency to offer cheap tours of its Tai Po filming studios to Chinese tourists, costing only a meager 198 RMB ($248 HKD) per person. The agency later revealed that the tour was canceled as not enough people signed up.

Owing its staff salaries, ATV only paid its workers half of their November wages in late December. On November 7, ATV paid its 700 staff members the remainder of their November wages. To thank the workers who have stayed with the station, ATV is considering sponsoring lunch for the staff six days a week. In addition, ATV is planning on a fundraising concert.

ATV’s executive director Ip Ka Po (葉家寶) accepted a radio interview yesterday, revealing that they are trying every means possible to raise funds. The company is currently rounding up resources to pay its workers their December wages.



Creds: Oriental Daily