I thought about this again today, because CY was in Korea, among other things to discuss creative industries.
Korea shows that even without a widely spoken language, TV, music and movies can sell all across Asia. For Cantonese there is potentially a wider audience with the Chinese diaspora in Malaysia, Singapore and Indonesia, not to mention Canada, US, Australia and UK.
It is a bit ironic, given the fount of creativity apparent in the occupy movement on his door step, that CY needs to go talking to 'foreign forces' to seek inspiration. Indeed CY has arguably done more than anyone else to damage HK's creative industries. By personally making sure that HKTV did not get a license, he deprived HK's most promising media company of ready revenue in the domestic market. Also for many years the HK government has tolerated the terrible, but loyally pro-BJ, ATV thus ensuring TVB has little competition which I think has lead to lower quality programming. Not that CY has much choice I imagine - it likely all ordered from above.
I do believe HK would, naturally, be the Hollywood of China, but it simply is not in China's plan to allow such an important, opinion forming industry, to be based in HK. Beijing likes to maintain control in a way that arguably stifles creativity.
(from RTHK) Mainland will send artists, film-makers, and TV personnel to live among the masses in rural areas in order to "form a correct view of art", state media said on Tuesday.
It comes weeks after President Xi Jinping told a group of artists not to chase popularity with "vulgar" works but promote socialism instead, with state media comparing his remarks to a speech by Mao.