On November 30th, during the 5th China Internet Audiovisual Conference, Lv Huanbin, the Party Secretary and Director of Hunan Radio and Television, and the Party Secretary and Chairman of Hunan Radio and Television Group Co., Ltd., shared important updates about the company's restructuring. He revealed that the restructuring plan has received official approval from the Central Propaganda Department and the General Administration of Radio, Film, and Television. With the necessary approvals in place, the listed company is expected to achieve a net profit of 4.1 billion yuan over the next four years as part of its performance commitments.
Lu Tai emphasized that Hunan Radio and Television has been proactive in exploring new opportunities and is committed to driving forward with media integration. As a state-owned platform, Mango TV has firmly established itself as the fourth-largest player in the online video industry. This year, the company initiated a major asset restructuring, aiming to bring key areas such as new media platforms, media e-commerce, content production, game interaction, and artist management into the capital market. This move is designed to fuel the rapid development of integrated media through strategic financial support.
Mango TV made history this year by becoming the first online video platform to turn a profit in the new media sector. In the first half of the year, it reported a profit of 150 million yuan, with projections for annual profits ranging between 400 to 500 million yuan. The company’s revenue structure is well-balanced and diverse. While it may not be the top earner among leading online video platforms, Mango TV benefits from multiple income streams, including advertising, copyright distribution, membership fees, IPTV, and OTT services.
Currently, copyright distribution revenue—covering both Hunan Satellite TV’s content and Mango TV’s own intellectual property—has dropped below 25% of total revenue. However, other revenue sources like membership, IPTV, and OTT have each seen growth of over 100%. Even though traditional advertising revenue faces challenges across the industry, Mango TV managed to increase its ad income by 70% this year. What stands out even more is the company’s strong control over content production and investment, which gives it a significant advantage in managing costs effectively.
Since its independent launch, Mango TV has strategically invested in various sectors such as film and television, music, social networking, hardware, and gaming, building a comprehensive ecosystem that supports long-term industrial development. Recently, the reorganization plan was officially approved by the relevant departments under the Central Propaganda Department and SARFT. With the restructuring now in motion, the company is well-positioned to meet its ambitious financial goals and continue its leadership in the evolving media landscape.
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