TVB returns pay-TV license due to $2.2bn losses

The broadcaster blames online piracy, proliferation of OTT services and the downturn of Hong Kong’s economy in recent years as reasons for discontinuing the pay-TV business.


Broadcasters Hong Kong license Online Piracy OTT Services TVB

 

Hong Kong – TVB Network Vision has informed the Hong Kong government and the HK Communications Authority of its decision to surrender their Domestic pay-TV Programme Service Licence. The decision came after years of losses. According to TVBNV, the pay-TV service has been operating in the red since it’s launched in 2004, and losses have accumulated to more than $2.2 billion over the years. A TVBNV spokesperson quoted rampant online piracy, proliferation of OTT services and the downturn of Hong Kong’s economy in recent years as reasons for discontinuing the pay-TV business. The spokesperson blamed the HK government for doing little to address the issues, particularly online piracy and regulatory provisions which do not keep up with the times.

“Virtually all the contents provided by TVBNV have been pirated and made available on a large number of illicit websites, apps and set-top-boxes which led to increasing subscriber churn rate.”



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