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Cormoratisation also will give RTHKC the freedom to increase revenues and diversify funding sources. Among the commercial initiatives it might pursue are sponsorships, programme and rights sales, commissioned programme production, leasing of production facilities, marketing of animation capability, and public fund-raising.
1.4
With greater internal flexibility and more commercial flair, RTHKC should be better equipped to respond to the exciting and rapid changes under way in the broadcasting industry. In particular, demand for high-quality, innovative television programmes is likely to expand dramatically with the introduction of satellite and, possibly, cable TV, enabling RTHKC to reach a larger audience and enhance its revenue base. Furthermore, as the gap narrows between TV and feature film and video production, RTHKC may be positioned to pursue new formats and distribution avenues. Similarly, its multiple radio channels can be used to serve a broad range of special interests.
SIGNIFICANT CONSTRAINTS
AND COMPETITIVE PRESSURES
1.5 While RTHKC will benefit from greater flexibility, Government funding constraints will require more cost-effective resource management and more purposeful marketing of TV and radio services. Realistically, at least in the near to medium term, Government budget allocations to RTHKC are likely to be reduced.
1.6
RTHKC's Government-mandated scope of operations will impose further constraints. In television, for example, RTHKC will supply programming to commercial broadcasters for distribution, but will not be permitted to broadcast directly or have a dedicated cable channel, if a cable network is developed. In radio, RTHK has already been asked to consider selective channel rationalisation or merging prior to corporatisation.
1.7
Changes on the competitive horizon also will challenge RTHKC. The imminent start-up of a third radio broadcaster, in particular, will force RTHKC to sharpen its channel identities and audience focus (see Exhibit 1). Likewise, as the commercial television broadcasters feel pressure from new competitors, they will place increasing demands on RTHKC to provide attractive programming for its prime-time slots.
McKinsey & Company, Ine
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