Pol ads boost ABS-CBN, GMA first-half earnings


This is AI generated summarization, which may have errors. For context, always refer to the full article.

The two biggest television networks in the country book double-digit growths in first-half earnings

STRONG FIRST HALF. The country's biggest television networks record double-digit growths in January-June earnings due in part to political ad revenues

MANILA, Philippines – The Philippines’ two biggest television networks said Tuesday, August 13 their first-half earnings grew by double digits, thanks to political advertisements during the election period.

ABS-CBN Corp. said its January-June net income surged 44% to P1.339 billion from P927 million in the same period of 2012.

GMA Network Inc. ended the first half with a net income of P1.135 billion, up 12% from last year’s P1.014 billion.

GMA said gross revenues grew 14% to P6.725 billion, fueled by airtime revenues, which grew 15%.

ABS-CBN enjoyed a faster growth as its consolidated revenues jumped 23% to P17.061 billion. The company said advertising revenues reached P10.061 billion, up 29%, while consumer sales went up 16% to P7 billion.

Stripping out revenues from pol ads, both networks said their “regular” airtime revenues also rose. ABS-CBN’s went up 17%, while GMA’s inched up 2%. – Rappler.com

Add a comment

Sort by

There are no comments yet. Add your comment to start the conversation.

Summarize this article with AI