TVB Signs Cooperation Framework Agreement with Youku Further Promotes TVB-Branded Dramas’ Distribution on Youku’s Hong Kong Drama Platform

(22 March 2023, Hong Kong) Television Broadcasts Limited (“TVB” or “the Company”, stock code: 00511.HK) is pleased to announce that 77 Atelier Limited (“77 Atelier”) and 上海翡翠東方傳播有限公司 (“TVBC”), subsidiaries of TVB, have signed a cooperation framework agreement with Youku, a large online video platform under Alibaba Group. TVB and Youku will leverage their respective advantages to achieve synergy.

Pursuant to the agreement, the contract will be for a duration of two years during which 77 Atelier will provide Youku with multiple purchased dramas, and TVBC will provide TVB-synchronized dramas and library dramas. The Company expected to generate a total revenue of approximately RMB700 million.

Thomas Hui, Executive Chairman of Television Broadcasts Limited said, "Youku is one of the leading online video platforms in China. TVB has abundant film and television production resources and profound experience in drama creation. TVB has maintained a good cooperative relationship with Youku all along. This framework agreement deepens the cooperation between the two parties and is more conducive to releasing synergies, further bringing TVB's high-quality "Hong Kong-style" dramas to the vast Chinese audience through Youku's popular Hong Kong Drama Platform. We anticipate that this cooperation will foster and optimize a larger audience flow for both parties, strengthen the cohesion of Youku's Hong Kong Drama Platform, and ultimately achieve a win-win situation."

Yanhong Liu, Chief Operation Officer of Youku said, “Youku has the most comprehensive library of Hong Kong dramas, and is the only leading online video platform in mainland China that offers a dedicated channel and largest fanbase for this genre. Hong Kong dramas produced by TVB have a wide impact among Chinese audiences worldwide. Building upon our decade-long collaboration, we co-produced variety shows and live concerts this year. Our enhanced partnership will further enrich our Hong Kong drama offering, and we will jointly help high-quality Hong Kong dramas achieve greater influence across generations and geographies through continued innovation."

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16 June 2024
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