Hong Kong-based television network ATV has announced plans to sell advertising packages at discounted rates in a bid to shore up its dwindling finances.

The ad rates can go as low as $500 HKD for a 5-second commercial, and more discounts will be applied for longer airtime.

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ATV spokesperson Wong Sau Tung has confirmed that the proposed discounted packages are currently in the works, but will need to conform to Hong Kong's broadcasting ordinance.

Before the network suffered financial problems, ATV used to charge a five figure amount for a 30-second commercial. Other networks such as TVB charge from $80,000 to $100,000 for 30-seconder TVCs.

Aside from offering discounted ad rates, ATV also tried to alleviate its financial problems by collaborating with a Mainland Chinese Travel Agency.

Under the planned collaboration, the agency would handle tours to ATV's Tai Po Filming Studios for a low price of $248 HKD per tourist. However, the plan was scrapped because there were not enough people who signed up.

ATV has only paid its staff half of their November wages in the last week of December, which fueled speculation that a mass resignation might occur. But by the start of the New Year, almost 90 percent of the staff showed up for work earlier than expected.

The network has also proposed sponsoring a free lunch for its entire staff six days a week to show its gratitude for their decision to stay with the network through tough times.

The company is said to be exhausting all means that would enable it to pay the back wages of its staff.

In a recent radio interview, ATV Executive Director Ip Ka Po assured its loyal workers that they are trying every means possible to raise funds to keep the company afloat.

TagsATV, Asia Television, Hong Kong