This article was corrected on Sept. 11, 2001.
(Core division of the Fujisankei Group)
Revenue: $3.963 billion
Profit: $159 million
Fuji TV continues to dominate Japan’s private broadcasters in terms of revenue. Income was buoyed by robust advertising surrounding its popular dramas such as “Hero,” which garners up to a 30% share per episode.
Its involvement in blockbuster movies such as the local production “White Out” and “The Green Mile,” a big hit in Japan, has helped increase revenues for the year.
A downturn in net profits was partly due to land appraisal losses for its real estate holdings and continuing setbacks in its satellite broadcasting subsidiaries, such as Sky PerfectTV and BS Fuji, the latter one of eight channels to launch digital satellite services late last year.
After a management restructuring last year, Fuji TV changed its strategy to focus on multiplatform opportunities. In June, Fuji and competitors TV Asahi and Tokyo Broadcasting System, announced the establishment of a joint venture company that will distribute TV programs over the Internet. The partners will pour between $45 million and $54 million into the venture.
Fuji TV chairman and CEO Hisashi Hieda is aiming to build a digital content factory to move beyond being merely a broadcaster.
He notes, “The most important thing to remain No. 1 in the media industry is content.”