TVB denies allegations of unlawful business operation of Chinese OTT platform

Local broadcaster TVB has defended itself against the allegations made by a group of minority shareholders that its OTT platform Mai Dui Dui app(埋堆堆) is not licensed. 

According to an official press statement, TVB strongly denies the serious and defamatory allegations made by the TVB Minority Shareholders Alliance against TVB and its board of directors, "TVB is committed to conducting its business strictly in accordance with the applicable laws and regulations. We take the allegations very seriously and will take legal actions against the alliance, author of the press release from the alliance and all members of the alliance," the statement read. 

"We want to assure our shareholders and employees that we remain fully committed to our core values of integrity, transparency, and accountability. We will continue to run our business with the highest standards of corporate governance and compliance.

This comes as TVB Minority Shareholders Alliance (大台小股東大聯盟), a group of minority shareholders of TVB said on Facebook that, TVB is suspected of illegally operating its Mai Dui Dui app, an OTT platform in mainland China, without obtaining a license and using TVB's programme copyright to recruit more than six million paid-up members, which involved hundreds of millions of dollars. The alliance decided to report to the relevant law enforcement agencies in China and Hong Kong in the form of real-name reporting.

Written by a founder-member of the alliance on Facebook, he stated that he checked with National Radio and Television Administration (國家廣播電視總局) and confirmed that the Mai Dui Dui app, which is operated by TVB and Guangzhou Mai Dui Dui Technology (廣州埋堆堆科技) did not have the “Licence to Broadcast Audio-visual Programmes on Information Networks” (《信息網絡傳播視聽節目許可證》), and the app failed to fill in the information in the national network audio-visual platform information registration management system.

Don’t miss: TVB garners sales of $RMB23.5m through first live commerce show with Taobao Live

He added that while TVB stated in February that Mai Dui Dui app is controlled by its subsidiary TVBC (翡翠東方), the alliance believed that Mai Dui Dui Techonology is wholly owned by another company namely 上海華人文化科技, which was unrelated to Jade Oriental. He said that the board of directors of TVB was suspected of misleading and deceiving shareholders and investors. The alliance decided to report to the Securities and Futures Commission (SFC) (香港證監會), and complained to The Stock Exchange of Hong Kong (HKEX) (聯交所) and the Broadcasting Authority (廣播事務管理局).

MARKETING-INTERACTIVE has reached out to TVB for a statement.

Back in March, TVB reiterated its intolerance towards the dissemination of misleading information about the company, after TVB Minority Shareholders Alliance revealed their reform plans to “revolutionise” TVB, including recalling the majority members of the company’s board.

Join Content 360 - Hong Kong: Stories For A New Era where over 150 content marketers come together to shape the future.  Content 360 - Hong Kong is a must-attend conference that focuses on cutting-edge content trends, innovative creation techniques, strategies to customise your content for the newest marketing channels, and more. Don't miss out on this opportunity to elevate your content marketing game in Hong Kong! Tickets are on sale now, register today. https://conferences.marketing-interactive.com/content360-hk/

Related articles:

TVB records loss of HK$807m due to weakened TV advertising market
TVB reportedly cuts 5% of its workforce for cost optimisation
TVB and Youku ink deal to bring HK-style dramas to wider Chinese audience
TVB expects up to HK$830m loss in 2022 due to weak advertising revenue