Profits Tumble at Listed Chinese Cable Network Companies Despite Lockdown

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By Liu Peilin, He Shujing and Anniek Bao / Sep 08, 2020 02:01 PM / Economy

China's cable television networks were already close to the brink as people ditched old fashioned TV in favor of disruptive new services.

A pandemic that had everyone sitting around at home might have been expected to boost their fortunes.

But as advertisers counted their pennies and the government pushed networks to provide free content in order to keep people at home, cable firm margins dissolved.

All 11 Chinese listed cable network companies reported tumbling profits and revenue in the first half, with some nosediving deep into the red.

Read the full story on Caixin Global here.

Contact editor Marcus Ryder (marcusryder@caixin.com)

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