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TVB makes strong debut on Chinese streaming platform

Hong Kong broadcaster TVB has made a strong debut on China’s Taobao Live streaming platform.

The broadcaster generated 23.5 million yuan (US$3.37 million) in sales in the first six hours of its first live-streaming show on the platform, the South China Morning Post reports.

TVB saw its shares almost double in value after its stars began selling products on the Alibaba-back platform. It said it planned at least 48 live-streamed shows on the platform this year.

Peng Ming Ye, president of TVB subsidiary TVBC, said the company hoped the move would help it “grab a cake in the huge live-streaming e-commerce industry in mainland China”, Bloomberg reports.

In its debut show on Taobao Live, TVB celebrities Moses Chan Ho and Sharon Chan Man-chi showcased Hong Kong products such as canned abalone in both Mandarin and Cantonese.

Analysts say TVB, Hong Kong’s dominant free-to-air broadcaster, has been looking for ways to boost its business amid increasing competition from internet rivals and a slowing local economy.