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Media & Entertainment

Losses mount for Hong Kong's pro-democracy Apple Daily

Political pressures add to coronavirus impact on advertising for publisher Jimmy Lai

Under Jimmy Lai, Apple Daily is putting its focus on subscriptions after five years of losses driven by the withdrawal of advertisers who faced political pressure over their dealings with the pro-democracy publisher. (Source photos by Reuters and Kenji Kawase)

HONG KONG -- The publisher of the pro-democracy Apple Daily newspaper in Hong Kong and Taiwan, plagued by worsening business and political strains, reported a net loss for a fifth straight year on Monday night.

Next Digital, the Hong Kong-listed media group led by prominent pro-democracy advocate Jimmy Lai Chee-ying, posted a loss of 415.2 million Hong Kong dollars ($53.6 million) for the financial year ended in March, or HK$77 million worse than the prior year. Revenue dropped 11% to HK$1.15 billion.

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