PCCW launches HK$300 million Independent Productions fund
Hong Kong – PCCW has announced the set-up of a HK$300 million Independent Productions Fund for the acquisition of local independent productions in a bid to support the local production industry, as well as offering a greater variety of TV programme choices for Hong Kong viewers. First conceived more than a year ago, the Independent Productions Fund forms part of PCCW’s preparation for its Free TV service.
PCCW welcomes the Chief Executive-in-Council’s grant of the approval-in-principle of HK Television Entertainment Company Limited’s (HKTVE) application for a Domestic Free Television Programme Service License (Free TV license). The company’s total investment plan across the first six years of operations is estimated to be over HK$1.3 billion, a substantial part of which will be invested in programming and production, they announced. In addition to own productions, the company has set aside a pool of funds to be accessed by local creative talents.
This fund aims to draw together the local creative industry and independent producers to bring viewers more quality choices in TV programmes. It will unleash the potential of cross-media talents in films and TV and harness the creativity of independent producers in Hong Kong to offer original and innovative formats.
As a start, PCCW intends to invest HK$300 million in this fund, and is open to further phases in the future upon a favourable response. It seeks to bring to viewers an array of attractive TV movies and mini-series with an aim to developing about 60 titles. In addition, it will also identify other genres including reality series, variety shows and lifestyle programmes, the company announced.
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