Decline
On 29 June 2018, the South China Morning Post quoted insider information that TVBI and the Broadcast Operation Department had laid off 100 people for two consecutive days. By July, a cutdown by 30 in the sports department was announced, leaving only 5 people. The long-established show Sports World aired its final episode on 7 July 2018. myTV SUPER sports channel will end on 15 August. By July, the "Hong Kong Animation Information Network" Facebook page stated that the dubbing group of about 70 people had been cut to 4, and there would be large-scale layoffs. Netizens expressed anger at this.
TVB's general manager Shin Keong Cheong said he did not renew his contract and denied the layoffs. By August, in the interim results of TV broadcasting, the print version of TVB Weekly had been suspended and switched to an online version. The TVB8 and TVB Galaxy websites serving overseas ceased service in September 2018. MyTV Super's TVB Sports Channel and live news station had also stopped broadcasting with the TVB Travel Channel. It is reported that TVB will lay off 800 people. On 5 October, the same year, TVB announced the reduction of about 150 employees from TVB Weekly, the Production Coordination Department, the Arts Division and non-drama productions, which took effect on the same day. The layoffs included at least one producer and two directors of Pleasure & Leisure.
In December 2019, pro-government broadsheet Sing Tao Daily reported that TVB's current chairman, Charles Chan, is about to withdraw from his shares and intends to resign as chairman to leave TV Broadcasting Co., Ltd. On 16 December, chief executive Mark Lee issued an internal notice stating that about 350 employees would be cut, accounting for about 10% of the company's remaining employees. Following this, on 20 December, more than 50 behind-the-scenes staff members were fired, most of them from the variety show and the information, cultural and educational departments. On 20 January 2020, Charles Chan finally resigned as the chairman of the TVB board and as a non-executive director, and will sell all television broadcasting shares.
In 2020, TVB signed Youku to expand mainland Chinese market. Drama co-production revenue grew by 72% after TVB signed coproduction agreements with Youku and Tencent.[41]
In 2021, TVB acquired a local e-commerce platform Ztore which owned and operated ztore.com and neigbuy.com.[42]
In 2023, a survey by The Communications Authority showed that some viewers said TVB's reality shows kept up with the current trend and the content was interesting, some said that its dramas and variety shows were repetitive in content, lacking creativity and were not appealing to viewers. In addition, some said there were too many programmes on Greater Bay Area (GBA) which were boring. Some audience was annoyed by the excessive use of product placements in programmes like "Scoop" and "Come Home Love: Lo And Behold". Indirect advertising of "Big Big Shop" was also considered excessive. There were also views concerning TVB often broadcast programmes with political stances, advertised products of companies in which TVB had an interest and made use of its TV platform for marketing. There was also suggestion that TVB News Channel should be terminated.[43]
In April 2024, TVB merged J2 with the TVB Finance, Sports & Information Channel to form TVB Plus, and leased the latter's frequency to Phoenix Television's Phoenix Hong Kong Channel.[44][45] TVB stated that the changes were expected to result in $100 million in cost savings.[46]
In August 2024, TVB reported that its net loss has narrowed by 65% year-on-year (YoY) to $143m in H1 2024.[47]
