First Profit in 7 Years, Hong Kong TVB Plans Rebranding

Ask AI · First profit in seven years, what are the key business adjustments driving this?

On March 25, Hong Kong Television Broadcasts Limited (TVB) (00511.HK) announced that to reflect the group’s development of multi-platform and diversified business strategies in line with global media market trends, the board of directors proposed changing the company’s English name from Television Broadcasts Limited to TVB Limited, and the Chinese name from “电视广播有限公司” to “无线集团有限公司”.

TVB stated that since its launch in 1967, it has evolved from a single television production and broadcasting organization into Hong Kong’s most important multi-platform entertainment and media group today. The group is not only a leading Chinese-language content creator globally but also the cradle and technological core of Hong Kong’s entertainment and media industry.

On the same day, TVB released its 2025 annual results, showing revenue of HKD 3.192 billion for 2025, a slight decrease of 2% from HKD 3.258 billion in 2024; EBITDA of HKD 365 million, up 24% year-over-year; and attributable profit to shareholders of HKD 59 million, compared to a loss of HKD 491 million in the same period in 2024, achieving a turnaround. Earnings per share were HKD 0.13.

It is understood that this is TVB’s first profit since 2018. Looking back at TVB’s performance over the past few years, the company has been in a loss cycle since 2018, with a net loss exceeding HKD 700 million in 2022. Although losses narrowed over the following two years through cost-cutting measures such as layoffs and channel consolidations, the company had not been able to escape negative growth.

The latest earnings announcement shows that despite the continued weakness in Hong Kong’s advertising market, TVB’s terrestrial TV channel advertising revenue in 2025 increased by 15% compared to 2024, mainly driven by strong advertising demand from large corporate clients. Additionally, after TVB regained advertising marketing rights for Guangdong channels from its broadcasting partners in 2024, the revenue contribution from its Greater Bay Area “B-roll” TV advertising products tripled. These factors contributed to a 9% revenue growth in TVB’s broadcasting business in 2025.

In Mainland China, revenue declined due to a decrease in co-produced dramas compared to 2024 and a slowdown in overall market activity. Nevertheless, TVB’s highly anticipated drama “Queen of News 2” launched in November 2025 performed well commercially, successfully bringing in significant advertising and sponsorship revenue for its Mainland co-production partner Youku and TVB in Hong Kong.

As one of TVB’s 2025 anniversary dramas, “Queen of News 2” continues the workplace struggle theme of the first season, with the original cast including Sheren Tang, Kevin Ma, Grace Li, and High Hsin returning, and new cast member Bosco Wong joining.

In 2025, TVB’s overall costs (excluding depreciation and amortization) decreased by 4.9% compared to 2024, while maintaining its position as the ratings champion in Hong Kong television. This achievement demonstrates TVB’s ongoing efforts to optimize cost structure and improve operational efficiency without compromising the attractiveness and quality of its content.