The financial reports for Ricky Wong’s (王維基) HKTV was released last week, reporting a $237 million HKD loss in the 16 months ending on December 2014. Reports say that HKTV accrued losses amounting to $1 billion HKD in the past three years. In 2013, HKTV applied for a free-to-air service license in Hong Kong, but the license was rejected by the Hong Kong government in October 2013. Despite the rejection, HKTV decided to continue with its program broadcasting and utilizes an over-the-top internet platform to air its programs. HKTV was officially launched in November 2014. Upon the establishment of HKTV, Ricky Wong said he hoped HKTV would be able to challenge TVB’s monopoly in the Hong Kong television market, but it was easier said than done. Though HKTV received wide support from netizens initially, viewership ratings fell dramatically over the last few months, forcing HKTV to put a temporary halt in drama production. Currently, the broadcaster’s income relies on commercials, its online shopping mall, and the fees generated from licensing its programs overseas. In 2011, HKTV acquired a plot of land in Tseung Kwan O — only a few miles away from TVB’s own TV City studios — to build a production studio for its television dramas. However, the land remains untouched today. Creds: East Week
their dramas aren't exactly good. And they seem to attract actors from tvb by giving a big paycheck. but they aren't profiting from doing that. Hope Fala is making the right choice.
According to HK news (13/04/2015): Ricky Wong is in talk with ATV to air his HKTV shows (4 hrs per day) on ATV's analogue Home channel & digital channel 11 until December 31 or before, if ATV folds earlier than that. In return, HKTV will get a 50 per cent cut from advertising revenue. ATV will be guaranteed at least HK$5 million a month. This is not a done deal yet. ATV had one week until 5pm next Monday to consider the HKTV proposal.
Didn't atv lose their tv license cause they can't paid for it, something to do with their financial problems. It's going to Richard Li's tv company.
I believe ATV can still broadcast until 31st March, 2016 when their current license expire. But whether they can last till then is another story. ATV is like on life support atm & can go any time soon. HKTVE a subsidiary of Richard Li's PCCW will start broadcasting no later than April 1, 2016. It will likely share content with its sister company NOW TV (pay/cable).
Their latest dramas after the Election seem so weak. Where's that vampire one? Yeah kind of sad actually, was hoping HKTV would rival TVB.
