TVB interim results with operating costs dropping 18% & EBITA up 33%

TVB recorded revenue of 1.258 billion dollars, marking a 16% decline.

Gross profits, meanwhile, stood at 566 million dollars, logging a slight uptick of 1%.

Total operating costs dropped 18%, with AI tools expected to further integrate into the company's content production processes to optimise workflows and shorten production cycles. The lower operating costs also enabled the Group to achieve a 33% increase in EBITA despite slower revenue.

In addition, operating cash flow reached 241 million dollars, nearly four times that of the same period last year.

TVB's four terrestrial TV channels maintained a 78% share of television viewing in Hong Kong while in the mainland, the channels reached more than 22 million viewers per month in Guangdong Province.

Revenue from the Greater Bay Area surged 39 percent year-on-year.

Digital advertising revenue also jumped 13 percent year-on-year.

But the reduced number of co-produced dramas and a slowdown in content distribution markets led to a 61% plunge in revenue from mainland China business.