PCCW Establishes Indie Production Fund in HK

HONG KONG: Telco PCCW, which runs the now TV pay-TV platform and has received approval in principle to launch a free-to-air network in Hong Kong, has established a HK$300 million ($38 million) fund for independent productions.

The Independent Productions Fund will be used to develop content for the new free-to-air channel. PCCW is looking for TV movies and mini-series, and is aiming to develop about 60 titles. It also aims to invest in reality series, variety shows and lifestyle fare.

“We recognize the merits of creating a healthy independent production industry, as it encourages and fosters creativity of talents working across TV, film, and music, in order to bring upon the best and new formats of TV programs to viewers," said Janice Lee, managing director of PCCW's TV and new-media business. "Our fund provides an open platform to enable them to unleash their potential which will in turn elevate the standards of the local television industry while satisfying viewers’ need for more quality TV program choices. As we continue to engage in our own productions, we also earnestly look forward to cooperating with industry partners to turn their creative ideas into quality TV content.”

PCCW's plans for its new free-to-air channel already include the period drama Empress Wei Zifu, currently in post. The network will also air some of the sports coverage from its pay-TV partner.