First profit in 7 years, Hong Kong TVB plans to change its name

Ask AI · After seven years, the company returns to profitability—what are the key drivers behind business adjustments?

On March 25, Hong Kong Television Broadcasts Limited (TVB) (00511.HK) issued an announcement stating that, in order to reflect the Board’s recommendation to align the Group’s multi-platform and diversified business layout with the global media market development trends, the directors have suggested changing the company’s English name from Television Broadcasts Limited to TVB Limited, and changing the Chinese name from “TVB Company Limited” to “Wireless Group Company Limited.”

TVB said that since it began broadcasting in 1967, TVB has evolved from an original single television production and broadcasting organization into today’s most important multi-platform entertainment and media group in Hong Kong. The Group is not only a globally leading producer of Chinese-language content, but also the cradle of Hong Kong’s entertainment and media industry and its technological core.

On the same day, TVB’s 2025 annual performance results showed that in 2025 it achieved revenue of HK$3.192 billion, down slightly by 2% year over year from HK$3.258 billion in 2024. EBITDA was HK$365 million, up 24% year over year. Profit attributable to shareholders was HK$59 million, compared with a loss of HK$491 million in the same period of 2024, achieving a turnaround from loss. Earnings per share were HK$0.13.

It is understood that this is TVB’s first profitable year since 2018. Looking back at TVB’s performance over the past few years, the company fell into a loss-making slump starting in 2018, and in 2022 it even recorded a massive net loss of more than HK$700 million. Since then, although losses have narrowed year by year through cost-cutting measures such as layoffs and channel consolidation, it has still failed to break out of a negative-growth predicament.

The latest performance announcement shows that although Hong Kong’s advertising market has remained persistently weak, in 2025 TVB’s terrestrial TV channels generated revenue from advertising customers that grew 15% compared with 2024, mainly driven by strong advertising demand from large corporate clients. In addition, since TVB launched the Greater Bay Area “B-roll” TV advertising product after taking back advertising marketing rights for the Guangdong channel from its broadcast partner in 2024, its revenue contribution has increased threefold. These factors pushed TVB’s TV broadcasting business to achieve 9% revenue growth in 2025.

For its business in mainland China, due to a reduction in co-production drama output compared with 2024 and a slowdown in overall market activity, revenue for this segment declined. Despite that, TVB’s highly anticipated drama series, “News Queen 2,” was released in November 2025. Its commercial performance was strong, successfully bringing substantial advertising and sponsorship income to Youku and TVB in Hong Kong for their mainland co-production partners.

As one of TVB’s 2025 anniversary celebration dramas, “News Queen 2” continues the workplace struggle core of the first season, with the main cast returning—including original cast members Chapman To? (Tsuei Man?), Marco Ngai? (?), Lee Se Yi? (?), and Gao Haining—while Bosco Wong also joins the cast as a new addition. As one of TVB’s 2025 anniversary celebration dramas, “News Queen 2” continues the workplace struggle core of the first season, with the main cast returning—featuring original cast members Chapman To? (Tsuei Man?), Marco Ngai? (?), Lee Se Yi? (?), and Gao Haining—while Bosco Wong also joins the cast as a new addition.

In 2025, TVB’s total costs (excluding depreciation and amortization) decreased by 4.9% compared with 2024, while also maintaining its position as the leading TV viewing ratings champion in Hong Kong. This result shows that TVB has continued to work on optimizing its cost structure to improve operational efficiency without affecting the appeal and quality of its content productions.