City Beat | Failures of Pay TV and digital radio leave Hong Kong’s broadcasting policy at a critical juncture
Given the government’s efforts to develop the services, this is an issue with political ramifications for the city’s next leader
With the resignation of the city’s No 2 official, the curtain is fully raised on Hong Kong’s leadership race, but this past week has not only been about politics.
The broadcaster put the blame on the economic downturn and online piracy. With eight years still left on the licence, its pay TV business has lost up to HK$2.2 billion since launching 13 years ago. As the old Chinese saying goes, a warrior should have the courage to cut off one arm to survive. That is the perfect description for TVB’s not-too-late decision.
It’s already telling enough that technology aside, good content and easy accessibility are vital as well
Li is dubbed China’s Rupert Murdoch for the vast media empire he has built on the mainland and overseas. With his connections, TVB is actively exploring those markets, so it makes good sense to cut off further investment in the local pay TV market, which has no potential for future growth.