Letv is set to invest some HK$6 billion (about $775 million) in local TV drama production as part of its plans toexpand from mainland China into Hong Kong’s video content market.
The company will also set up a customer service and hotline center operation, as well as an e-commerce operation.
Letv is also in keen discussions with major Hollywood studios to purchase the copyright of their films and TV dramas.
“Additionally, Letv is currently advancing a scheme for local drama production in Hong Kong, with a plan to shoot five Hong Kong dramas that cater to local audience preferences,” the company said in a statement.
According to a survey commissioned by Letv on viewing habits in Hong Kong, only half of the respondents watch TV or video programs during traditional prime time, while as much as 49% prefer watching VOD content.