New | HKTV to launch mobile television service next month
Ricky Wong's company enjoys share price bounce from news of imminent launch
Shares of Hong Kong Television Network (HKTV) surged as much as 25 per cent in morning trading in Hong Kong on Monday, boosted by news that its mobile television service will be launched in the middle of next month.
It closed the day at HK$2.81, up 17.6 per cent, while the benchmark Hang Seng Index rose 1.1 per cent.
HKTV boss Ricky Wong Wai-kay said television programmes would reach the audience through the internet on computers, smartphones and on television sets if the users attached an extra set-top box. HKTV’s advertising prices would be close to those of the free-to-air television stations operated by TVB, he said.
Wong estimated the size of the audience for the mobile television service, only available in Hong Kong, would be at least 500,000.
HKTV will provide 6.5 hours of programming a day at first, with users allowed to watch them free if they register their age, gender, email address and income level with the broadcaster.
The company applied for a free-to-air television licence at the end of 2009 but the application was turned down last year. Since then Wong has been focusing on launching mobile and internet television. He had earlier hoped to launch the service in July.