Lu Tinghui, the hero of ViuTV and the director of Hong Kong Television Entertainment Co., Ltd., added a new task. PCCW sent an internal email to employees today (4th), announcing the establishment of a new company to coordinate ViuTV’s existing self-produced programs and artist management business, operating on a self-financing model, and will explore the development of markets outside of Hong Kong. Lu Tinghui was appointed as the company’s chief executive officer, while continuing to serve as director of Hong Kong TV Entertainment and general manager of ViuTV. Zheng Shanqiang, the former general manager of wireless business, also joined ViuTV as the vice chairman of Hong Kong Television Entertainment Co., Ltd. and a senior consultant of ViuTV.
Li Kaiyi, Managing Director of PCCW Media Group and Chief Executive Officer of Viu, sent an internal email, stating that the media industry has undergone tremendous changes, and the platform and content have clearly developed its unique and multifaceted business model. The company now needs to further its content and talent creation Develop independently while continuing to closely respond to the needs of the ViuTV TV platform and Hong Kong audiences.
Li Kaiyi announced in the letter that a new company will be established to take over the coordination of all Viu TV’s existing self-made and self-entrusted original content activities, as well as artist management business, and will operate in a self-financing mode. In addition to serving ViuTV, the new company will also explore the development of markets outside Hong Kong. Lu Tinghui will serve as the CEO of the new company, responsible for the establishment and leadership of the new company, and will continue to serve as the director of Hong Kong TV Entertainment and the general manager of ViuTV.
The former general manager of Wireless joined as a senior consultant
Li Kaiyi also stated that Zheng Shanqiang, the former general manager of TV broadcasting business, has been appointed as the senior consultant of ViuTV and the vice chairman of Hong Kong TV Entertainment Co., Ltd., the latter still subject to regulatory approval. The letter stated that Zheng Shanqiang will be able to provide strategic opinions and insights on the content business and Viu TV’s monetization capabilities and growth, as well as a long-term strategic roadmap.
Li Kaiyi pointed out that, together with the Viu Original pan-regional OTT platform led by Du Zhike, the former deputy general manager (drama and program) of the newly joined Wireless, the company will have two complementary content creation engines. In addition to effectively serving the existing platform, Expand business in the field of content creation.
Industry analysis company Media Partners Asia issued a report earlier, mentioning that Viu has 5.2 million paying subscribers in Southeast Asia, surpassing Netflix to become the second largest audio-visual platform in the region, second only to Disney+ with 6 million. PCCW’s interim results announced in August this year disclosed that as of the end of June this year, Viu had 49.4 million monthly active users and 7 million paying subscribers.
PCCW also pointed out that thanks to the unique local content and the popularity of MIRROR, ViuTV’s advertising revenue in the first half of this year was 188 million yuan, an increase of 66%; the revenue from free TV and related businesses also reached 256 million yuan, an increase of 97 year-on-year %.
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