Of the many internet radio stations in Hong Kong, D100 stands out as more like a mainstream operation. That's because it has links to Digital Broadcasting Corporation (DBC), which was co-founded by commentator and entrepreneur Albert Cheng King-hon.
After a row over political interference at DBC in 2012, Cheng and former DBC chief executive Morris Ho Kwok-fai sold their stake in the broadcaster and set up D100.
They launched in Cyberport the following year, taking along with them a team of former DBC staff.
D100's four channels now attract 500,000 listeners daily, but Ho says they are still working out a sustainable business model.
Only 15,000 people pay the HK$780 annual subscription - not enough to cover operating costs. "We use the technology of internet radio, but our positioning and programme strategy is like that of [mainstream] radio," says Ho. "After the DBC incident, we realise that it's important to have an independent voice. To be able to do that, we need investment in hardware and programming.
"We produce many live programmes, and comply with the Broadcasting Ordinance voluntarily. Unlike other internet radio operators, we do not allow foul language, as we want to reach inside homes to the whole family," he says.