Hong Kong’s TVB logs US$7.5 million profit, shaking off 7 years of losses
A threefold surge in Greater Bay Area ad revenue drove a 15% jump in TV advertising income.
Hong Kong's dominant free-to-air broadcaster, Television Broadcasts (TVB), has dramatically reversed its financial fortunes, posting a profit of HK$59 million (US$7.5 million) for 2025. This ends a challenging seven-year streak of annual losses that began in 2018, marking a significant milestone for the traditional media giant. The profit swing from a HK$491 million loss in 2024 was achieved despite a 2% dip in overall revenue to HK$3.19 billion, highlighting a strategic focus on cost management and revenue diversification.
The key driver of this recovery was a seismic shift in advertising revenue. While the local Hong Kong market remained soft, income from TVB's terrestrial channels grew by 15%, powered by a threefold surge in contributions from mainland China's Greater Bay Area (GBA). This massive economic zone, comprising nine cities including Guangzhou and Shenzhen, now delivers over 20 million monthly viewers to TVB. The broadcaster's cost-cutting measures, which reduced total expenses (excluding depreciation) by 4.9%, combined with this new revenue stream to return its TV broadcasting segment to 9% growth.
- TVB swung to a HK$59M ($7.5M) profit in 2025, ending seven straight years of losses.
- Advertising revenue from China's Greater Bay Area grew threefold, driving a 15% increase in TV ad income.
- The broadcaster maintains a dominant 79% weekly viewership share in Hong Kong, reaching 4.9 million in-home viewers.
Why It Matters
It demonstrates how traditional broadcasters can achieve a turnaround by strategically tapping into massive adjacent markets and controlling costs.