It was not long ago I have heard of two major Hong Kong-based media players will make their foray into online video business – an attempt to take on a new future market where the next generation is believed to devote their time or even spend pocket money on. A myth that many people still want to demystify!
At the top navigation of Oriental Press Group’s homepage, it’s easy for us to spot the “Ontv” logo, which is the entry point for the Group’s newest online video broadcasting channel. The site appears to put more weight on finance and soft news than other general news stories.
Television Broadcasts Limited, commonly known as TVB in Hong Kong, joined the expanding list of companies venturing into the new zone. According to Ivy Wong, Chief Operations Officer of TVB.com, they are seeking ways to distribute and monetize online video.
Digital media has long been a buzzword in the internet world. How to tap into the market remians an enigma. The founders of Youtube Inc - Steve Chen and Chad Hurley become the first of their own kind to reap a handsome profit by selling their stakes to Google in Oct, 2006 for $1.65 million in stock. Will Oriental Press Group or TVB get their money’s worth anytime soon after they have delivered tens of thousands dollars to establish the digital media channel?
Perhaps a few tips from Albert Cheng, ABC‘s EVP of Digital media can be helpful:
- Focus on content with high quality
- Create a branded experience and an innovative advertising model
- Expand distribution channels to all kinds of access providers through various business models
Albert Cheng has an interview with Contentinople.com recently to unveil ABC’s digital strategy. To conclude what he spoke of in the interview, we envision that he’s going for a free-to-the-consumer, ad-supported video streaming strategy.