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102-year-old Run Run Shaw was officially "step down" TVB crisis-ridden
Worked hard for half a century in the entertainment circle the "Sixth Uncle," Run Run Shaw, and finally to 102-year-old age retirement. Since yesterday, he stepped down in Hong Kong television station TVB Executive Chairman of the wireless office, only the Board of Directors as non-executive Chairman, Vice-Chairman and Managing Director, 79 year-old "Sixth Aunt" Mona Fong Chinese official in charge of the banner, in charge of this market value 16.4 billion Hong Kong dollar TV kingdom. However, out of rivers and lakes when the Sir Run Run Shaw, TVB was founded 42 years faced the greatest threat - as well as the drop in income for a monopoly for many years Hong Kong TV industry ready to face the collapse of the Kingdom of music, and even proud of TV drama production is declining reputation. China Morning Post reporter Luo Jun Peng
Lay off throttle
Is still not stop sales decline
Run Run Shaw has been little in recent years have taken part in TVB's daily operations, only the annual general meeting of shareholders and the annual public appearance before the Taiwan-Qing; the contrary, becoming a high-profile wife, Mona Fong, from the previous "invisible hand" to the foreground, last year play a more "sit still" to become the Managing Director of the bit, see Sir Run Run Shaw has long been ill-prepared to pass the torch. Succession there is no problem, but the performance of stagnation in TVB is a big problem. 2005 to 2008 period, TVB's turnover increased from 4.176 billion Hong Kong dollars 4.47 billion Hong Kong dollars, the annual increase was only 1.35%. Profitability is not then retreated, and in 2008 a profit of 1.055 billion Hong Kong dollars, compared to the previous three years, earned an annual average of about 1.1 billion Hong Kong dollars is more backward, but no signs of recovery.
As for the first half of 2009 performance, semi-annual turnover of only 1.754 billion Hong Kong dollars, compared with the same period in 2008 into one and a half. Although TVB drastic layoffs to cut expenses, the cost reduced from 9.6 billion to 8.5 billion Hong Kong dollars, but in the first half net profit still fell into a three and a half from the first half of 2008 to 502 million Hong Kong dollars, fell to 330 million Hong Kong dollars.
Hong Kong TV music monopoly
Will be broken down
In addition to the performance decline in a row outside, TVB in Hong Kong for years TV music monopoly kingdom may also be broken. Singer in Hong Kong in the past, the Chinese propaganda in general only on the TVB, who accepts another television interview could be faced with the danger of being blocked TVB, even though others think of borrowing in recent years, mainland television stations interview lens to an interview in Mandarin singers, but TVB is still in a monopoly status, record companies generally do not offend the TVB. However, recently published by Universal, Warner, SONY, and EMI and other record companies formed HKRIA (Hong Kong audiovisual Union) began to rise in revolt demanding the adoption of international counterparts by way of dividend - a bonus system in accordance with advertising revenue to develop the amount of royalties. Based on this algorithm, in recent years, TVB has to pay 4.8 million Hong Kong dollars in royalties to the 2012 will have to pay 9.6 million Hong Kong dollars. This will substantially increase the budget for the TVB.
This time HKRIA and TVB have been at loggerheads over, TVB dilemma, if agreed to a new tax approach, the future other record companies followed suit, then it will be a tremendous amount of expenditure; if we do not agree, TVB in Hong Kong music monopoly position is likely to be broken. It is understood that, HKRIA these four major record companies have Eason Chan, Hacken Lee, Kay Tse, Fang Datong and many other Chinese-language singer, at present these singers in the absence of TVB Jade Solid Gold held this month, the overall election, and many of TVB programs also need to use The singers songs. For example, last night, held in Hong Kong, Tsim Sha Tsui, fireworks countdown, TVB is responsible for producing a result, only invited to the King of Leo Ku's the other record companies have the absence of a singer, an activity last year, there Hacken Lee, Alan Tam and other big present, this so that TVB is very embarrassing, is not conducive to advertising investment.
Lay off throttle
Is still not stop sales decline
Run Run Shaw has been little in recent years have taken part in TVB's daily operations, only the annual general meeting of shareholders and the annual public appearance before the Taiwan-Qing; the contrary, becoming a high-profile wife, Mona Fong, from the previous "invisible hand" to the foreground, last year play a more "sit still" to become the Managing Director of the bit, see Sir Run Run Shaw has long been ill-prepared to pass the torch. Succession there is no problem, but the performance of stagnation in TVB is a big problem. 2005 to 2008 period, TVB's turnover increased from 4.176 billion Hong Kong dollars 4.47 billion Hong Kong dollars, the annual increase was only 1.35%. Profitability is not then retreated, and in 2008 a profit of 1.055 billion Hong Kong dollars, compared to the previous three years, earned an annual average of about 1.1 billion Hong Kong dollars is more backward, but no signs of recovery.
As for the first half of 2009 performance, semi-annual turnover of only 1.754 billion Hong Kong dollars, compared with the same period in 2008 into one and a half. Although TVB drastic layoffs to cut expenses, the cost reduced from 9.6 billion to 8.5 billion Hong Kong dollars, but in the first half net profit still fell into a three and a half from the first half of 2008 to 502 million Hong Kong dollars, fell to 330 million Hong Kong dollars.
Hong Kong TV music monopoly
Will be broken down
In addition to the performance decline in a row outside, TVB in Hong Kong for years TV music monopoly kingdom may also be broken. Singer in Hong Kong in the past, the Chinese propaganda in general only on the TVB, who accepts another television interview could be faced with the danger of being blocked TVB, even though others think of borrowing in recent years, mainland television stations interview lens to an interview in Mandarin singers, but TVB is still in a monopoly status, record companies generally do not offend the TVB. However, recently published by Universal, Warner, SONY, and EMI and other record companies formed HKRIA (Hong Kong audiovisual Union) began to rise in revolt demanding the adoption of international counterparts by way of dividend - a bonus system in accordance with advertising revenue to develop the amount of royalties. Based on this algorithm, in recent years, TVB has to pay 4.8 million Hong Kong dollars in royalties to the 2012 will have to pay 9.6 million Hong Kong dollars. This will substantially increase the budget for the TVB.
This time HKRIA and TVB have been at loggerheads over, TVB dilemma, if agreed to a new tax approach, the future other record companies followed suit, then it will be a tremendous amount of expenditure; if we do not agree, TVB in Hong Kong music monopoly position is likely to be broken. It is understood that, HKRIA these four major record companies have Eason Chan, Hacken Lee, Kay Tse, Fang Datong and many other Chinese-language singer, at present these singers in the absence of TVB Jade Solid Gold held this month, the overall election, and many of TVB programs also need to use The singers songs. For example, last night, held in Hong Kong, Tsim Sha Tsui, fireworks countdown, TVB is responsible for producing a result, only invited to the King of Leo Ku's the other record companies have the absence of a singer, an activity last year, there Hacken Lee, Alan Tam and other big present, this so that TVB is very embarrassing, is not conducive to advertising investment.
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