TVB and Taobao Reach Cooperation Intent Setting A New Milestone of Live Commerce

(1 March 2023, Hong Kong) Television Broadcasts Limited (“TVB” or “the Company”, stock code: 00511.HK) is pleased to announce that 上海翡翠東方傳播有限公司 (“TVBC”), a subsidiary of TVB, has reached an intent of cooperation with Taobao, the largest digital retail platform in China. In the coming year, both parties shall jointly conduct at least 48 e-commerce livestreaming broadcasts, which are expected to generate tens of millions of revenue for the Company.

The first e-commerce livestreaming broadcast hosted by a number of TVB artistes will take place on 7 March via the official e-commerce account “TVB識貨” operated by TVBC. By leveraging the substantial traffic on Taobao, TVB will create new and entertaining experiences for online shoppers through real-time interaction with our artistes. Monetising content marks an important milestone in the live commerce journey of TVB.

Peng Ming Ye, President of TVBC said, “We are glad to achieve this intent of cooperation with Taobao. Live commerce has become a new norm in consumption in this ever-changing era of e-commerce. TVB has achieved satisfactory results with its active investment in e-commerce and supply chain business cooperation. As Taobao is the largest digital retail platform in China, we believe that such cooperation will further enhance TVB’s strategies of e-commerce business in mainland China, with a target to gain a larger share among the huge live commerce industry.”

Doyle Cheng, General Manager of Taobao Live said, “TVB has a wealth of talented artists and robust content production capabilities, which has served as a reliable source of high-quality Hong Kong dramas that have defined the collective memories of generations of audiences. Taobao Live has been strengthening its content offering by adopting a model that drives both transactions and content creation, which has attracted many celebrities to join our livestream platform. Partnering with TVB is a testament to the strong momentum of our new model. We believe this will be a win-win collaboration through the opportunity to transform viewership into purchasing power.”

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19 July 2024
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