CTF Media eyes events expansion as traditional TV and broadband growth stagnates
Revamped CTF Media and Entertainment, which holds one of Hong Kong’s three free-to-air television licences, plans to expand its focus beyond TV programmes and broadband to entertainment and the sports economy as its traditional businesses stagnate. Revealing the new logo of the company previously known as i-Cable Communications, CEO and executive director Ivy Wong Nga-fan listed its five core…
CTF Media and Entertainment, a Hong Kong TV broadcaster, plans to broaden its focus to include events, sports, and e-commerce as traditional TV and broadband growth stalls. The company, owned by the family of tycoon Henry Cheng, recently unveiled a new logo and announced its five core business areas: event organization and investment, celebrity merchandising, integrated market solutions, broadband and television.
CEO Ivy Wong stated that the company is looking to develop new business models in all areas. Wong noted that the company's traditional sectors are not seeing significant growth due to stable internet and television audiences. As a result, the company will continue to focus on its core sectors while expanding its presence in events and related industries.
The government recently renewed CTF Media's free-to-air television license for 12 years, with a minimum investment of HK$950 million, lower than its competitors TVB and HK Television Entertainment. Wong revealed that the company would maintain its focus on television and events, while seeking to expand its presence in these areas.
The new license also required the broadcaster to air more English-language and national education content, a requirement that Wong sees as aligning with the company's strategy of promoting Hong Kong's story to foreign audiences.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
