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Television Broadcasts Limited (Stock Code: 00511)

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Television Broadcasts Limited (Stock Code: 00511) Television Broadcasts Limited (Stock code: 00511) Investor presentation 9 March 2017 Table of content 1 Company overview 2 Competitive strengths 3 Future strategies 4 Five-year financial overview 5 1H2016 results update 1 1. Company overview 2 TVB overview A leading vertically integrated television broadcaster with largest market share in Hong Kong Company overview Commenced business in 1967 and listed on the Stock Exchange of Hong Kong in 1984(1) − First wireless commercial television station in HK (licence until 2027) − Largest free-to-air TV broadcaster in HK − One of the largest commercial Chinese programme producers in the world (over 670 hours of drama and over 19,000 hours of non-drama output per annum) Owns 5 free-to-air channels and 14 branded thematic TV channels Enjoys 83% audience share in HK during weekday primetime(2) in 1H16 for FTA channels, engaging with over 3 million viewers Possesses content library of over 92,000 hours of self-produced programmes, and about 42,000 hours of news footage Revenue breakdowns 1H2016 Revenue by geographies(%) 1H2016 Revenue by operating segments (%) Hong Kong TV USA and Australia Vietnam Other Programme licensing broadcasting Canada 1% 1% countries 62% and distribution 3% 2% 24% Mainland China 1H2016 1H2016 10% revenue of Other activities revenue of 4% Malaysia and HK$2.0bn HK$2.0bn Singapore HK Overseas pay TV 14% 69% operations 4% Hong Kong digital new media Channel 3 business Source: Company filings. operations 4% Note: 2% (1) Following a group reorganisation, Television Broadcasts Limited became the listed parent company of the Group in 1988. (2) Weekday prime time for TVB’s terrestrial TV channels runs from 7pm to 12am, Mondays to Fridays. TVB overview (cont’d) Unique business model encompassing production, broadcasting & distribution Production Broadcasting Distribution Over 40 years of experience in Chinese Free-to-air channels language content production Overseas pay TV operations Produces Chinese-language TV drama series Provides self-produced or acquired contents to and non-drama programmes covering a variety subscribers through satellite TV, cable TV or OTT of themes services in the USA, Australia and Europe TVB City, TVB’s headquarters has well-designed Malaysia and sizeable outdoor filming sites and indoor studios with total building area exceeding Grants licences to MEASAT which operates the Astro 110,000 square metres TVB.com platforms and supplies programmes Singapore Supported by a substantial production team TVB’s official website and has been in operation comprising approximately 1,700 producers, since 1997. The website is well-supported by Grants licence to StarHub as the key Chinese screenwriters, crews, costume designers and advertisers programme supplier for mobile and broadband many other supporting personnel. distribution and for broadcasting through its pay TV Mobile platform platform 700 artistes under contract China Youku Tudou Consists of mobile applications available for free to users of smartphones and other Operated by TVBC, a JV with CMC, Shanghai Media internet-connected devices Group, and Gravity Corporation Signed distribution agreements with major new OTT service media players, such as BesTV via IPTV, Tencent, MangoTV, and Youku Tudou Launched myTV SUPER in April 2016, an OTT Miss HK Pageant Good Cheap Eats service offered through both TVB branded set- Vietnam top boxes and a mobile application where Operates a drama channel on the country’s largest subscribers are able to enjoy linear channels on cable network, Saigontourist Cable Television demand (45 channels and over 19,000 hours of VOD) Cambodia 4 Channel operations Signed a multi-year contract with a local terrestrial Distributes and operates two satellite channels, television station, PNN, for a daily two-hour A Fist within Beyondthe Realm Four Walls of Conscience TVB8 and Xing He channels broadcast time-belt, effective in April 2016 4 TVB history and key milestones Long history with proven track records of contents creation and distribution Obtained a Sir Run Run HK-TVB Following a group An investor group, comprising Dr. Charles CHAN Broadcasting SHAW, G.B.M., Limited was reorganisation, Dr. Charles CHAN, Madam Cher became Chairman of License in one of the listed on TVB became the WANG and Providence Equity TVB. September and founders of the HKSE listed parent Partners, acting through Young Mr. LI Ruigang, the commenced free- Group, became company of the Lion, acquired 26% founding chairman of to-air Chairman of the Group shareholding from Shaw China Media Capital broadcasting on Board of Brothers (HK) Ltd (“CMC”), became an 19 Nov as the first Directors Launched myTV mobile upstream shareholder wireless application in Hong Kong, then as a new member of commercial followed by TVB News, TVB Young Lion (26%) television station Finance and TVB Zone in later in HK years 2016 2015 2011 2007 2004 Launched OTT 2003 service, myTV SUPER, 1988 1984 user number 1980 1981 exceeded 1 million in 1967 1976 mid-Oct Announced corporation with Partnership Tencent Penguin Received with CMC and Pictures and iQiyi on Moved Guangdong Warner Bros. 25 Aug Began to operate Adopted a programming strategy of headquarters landing rights to for movie Launched enhanced cable and broadcasting 2.5 hours of drama to TVB City collect a license Launched production version of TVB satellite serials on Jade during weekday prime with a total fee for digital Sold Taiwan Anywhere on 15 Sep television time, which has helped promote building area distribution of terrestrial business in two Appointed Mr. LI channels in viewership momentum and hype for of 110,000 Jade and Pearl television tranches in Ruigang as Vice overseas markets its drama serials square meters channels broadcasting 2015 and 2016 Chairman of TVB TVB has established an unparalleled high quality contents and IP library, through decades of dedication in producing original contents Source: Company filings. 5 Group structure Dr. Charles CHAN Kwok Keung(1) Mr. LI Ruigang(2) Ms. Cher WANG Hsiueh Hong(3) 100.0% Free float Young Lion Ms. Mona FONG(4) + Top institutional holders including Holdings Ltd Shaw Foundation − Silchester International (14.0%) − Dodge and Cox (9.8%) 26.0% 3.9% 70.1% TVB (00511.HKSE) 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 12.0%(5) 5.1%(6) Other activities Hong Kong Programme including magazine Shaw Brothers Flagship Hong Kong TV Overseas pay Channel digital new licensing and publications, music Holdings Limited Entertainment broadcasting TV operations operations media distribution entertainment, and (00953.HKSE) Group etc. Movie Investment via JV Strong support from shareholders solidifies our leading position in Chinese language content globally Source: Company filings. Notes: (1) Dr. Charles CHAN has been appointed the Chairman of the Board since 1 Jan 2015. (2) Mr. LI Ruigang has become an upstream shareholder as part of Young Lion (holding 26%) since 22 Apr 2015. Providence Equity Partners ceased to be a member of Young Lion on 7 Jun 2016. Mr. Li is the founding chairman of China Media Capital. He became the Vice-Chairman of the Board on 17 Oct 2016. (3) Ms. Cher WANG Hsiueh Hong is the co-founder and chairlady of HTC Corporation (2498.TWSE) and VIA Technologies (2388.TWSE). (4) Ms. Mona FONG is the chairperson and managing director of the Shaw group of companies and non-executive director of TVB. (5) An effective 12% interest in Hong Kong-listed Shaw Brothers Holdings Limited through a joint venture held by CMC and TVB. 6 (6) An effective 5.1% interest by TVB in Flagship Entertainment Group, a mega movie investment platform formed by Warner Bros., CMC and TVB. 2. Competitive strengths 7 Competitive strengths Iconic brand with long history and a leading market position in the Hong Kong 1 television broadcasting industry Vertically integrated business with a substantial library of Chinese content 2 programming and a strong international distribution platform Premium advertising revenue due to substantial market reach and strong 3 relationships with advertisers and advertising agencies A well-established and leading player in Hong Kong’s expanding digital new media 4 sector 8 1 Iconic brand with long history and a leading market position in the Hong Kong television broadcasting industry Large & loyal Iconic brand Superior & highly audience share visible revenue Largest free-to-air HK TV operator Reaching over 3 million audiences Unparalleled market share led to with 83% weekday prime time premium advertising revenue First wireless commercial TV station audience share Strong relationships with advertisers and advertising agencies in HK Deep understanding of local culture Best – known household TV leading to unrivalled TV ratings Highly visible advertising revenue brand name in HK committed at the beginning of a year TVB is the dominant Hong Kong TV broadcasting company TVB consistently enjoys top drama average TV ratings(1) TVB steadily enjoys largest audience share(2) 30.5 30.5 83% 29.2 82% 81% 2014 2015 1H2016 2014 2015 1H2016 TVB enjoys a high level of brand loyalty among Hong Kong viewers built up through consistent delivery of high-quality television programmes over the past four decades Source: Company filings. Notes: (1) TV rating (“TVR”) represents the size of the audience expressed as a percentage of the total TV population. 1 TVR represents 64,940 viewers in 2014, 64,660 viewers in 2015, and 64,910 viewers in 1H16. (2) Overall average audience share of TVB’s terrestrial TV channels
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