TVB (00511.HK) announced that as of the end of June this year, the combined market share of flagship channel Jade, 24-hour news channel and other channels reached 79% of viewing ratings.

The group's advertising revenue on Hong Kong's free-to-air channels continued to grow during this period, with an annual double-digit percentage increase in overall revenue from advertising clients. Despite the overall weakness of the Hong Kong advertising market, the company continues to attract new customers. In addition, the group's Jade and Pearl channels, which have landed in Guangdong Province, attract more than 20 million viewers per month, and the new advertising products launched in the Greater Bay Area of Guangdong Province have achieved initial success. Therefore, compared with the three-month period ending on March 31 this year and June 30 last year, the group's prime-time TV advertising unit price achieved strong double-digit percentage growth.

The group's OTT streaming business continues to grow steadily, with myTV Gold paying subscribers maintaining stability on a quarterly basis and growing by 4% annually, while the average monthly active user (MAU) for all service levels remains around 2 million.

In mainland China, after announcing a larger-scale custom drama agreement with Youku earlier this year, TVB announced in the quarter an expansion of its custom drama cooperation with Tencent Video. As a result, the company expects to deliver four additional drama series to Tencent Video in the next one to two years. These expanded collaborations provide the group with strong joint production revenue from now until 2026.

Based on the above situation, TVB expects to achieve positive EBITDA for the six-month period ending in June this year, compared with a loss of EBITDA in the same period last year. Therefore, the company reiterates its expectation of a significant positive EBITDA for the group for the full year. In addition, based on the current business momentum and not considering special one-time items, it is expected that a positive shareholder attributable net profit will be achieved for the six-month period ending this December.