Phoenix unveils HK$2.37 billion plan for terrestrial TV channels in Hong Kong as it seeks free-to-air licence
Phoenix Hong Kong Television details its strategy to secure one of the coveted local licences, and its 10 years of experience could give it an edge, expert says
The latest aspirant looking to enter the highly competitive free-to-air television market in Hong Kong has pledged to invest HK$2.37 billion in its first six years of operation.
Phoenix Hong Kong Television, which is based in the city, on Friday detailed its strategy four days after it was revealed the satellite broadcaster had submitted an application in May to the broadcasting regulator for a “domestic free television programme service licence in Hong Kong with digital terrestrial transmission”.
But Phoenix’s budget looks poised to be eclipsed by the HK$4.1 billion ambitions of Forever Top – a consortium that has since last year expressed interest in bidding for one of the coveted local licences.
Maverick businessman Ricky Wong Wai-kay’s Hong Kong Television Network has also vowed to spend more, with HK$3.45 billion earmarked for its initial six years if it is awarded a licence.
But Grace Leung Lai-kuen, lecturer at Chinese University’s school of journalism and communication, said Phoenix’s decade-long experience could give it a competitive edge in the process.
In its submission to the Communications Authority, Phoenix said it would invest HK$623 million in programming and HK$1.62 billion on operations.