Two of the country's largest and most popular television networks, ABS-CBN Corporation and GMA Network Inc., posted some double-digit drops in their net income in the first half of the year 2018 as confirmed by the two networks. The decline of the two network's income started during the term of Pres. Rody Duterte on 2016 up until today.
One of the reasons of the decline was because of the fact that advertisers funnel their money elsewhere due to the seemingly growing appetite of Filipinos for alternative forms of entertainment.
ABS-CBN Corp. suffered a greater decline between the two as it posted a 41-percent drop in net income from Php1.3 billion in the first half of 2017 to Php741 million in the same period this year. As for GMA Network, its net income only slid by 21 percent to Php1.2 billion from Php1.6 billion.
Meanwhile, GMA Network ended the first half of the year with a six-percent decline in total revenues at Php7.2 billion while ABS-CBN Corp. saw its revenues slightly decline from Php19.34 billion to Php18.9 billion.
The revenue of GMA Network from elevision and radio airtime dropped by seven percent in the first half of the year at Php6.4 billion while ABS-CBN Corp.’s advertising earnings decreased by three percent to Php9.6 billion.
The latter’s slowing performance was also further aggravated by the lower revenues recorded from the movies it has released under its film production arm, ABS-CBN Films.
Source: Entrepreneur.com.ph
One of the reasons of the decline was because of the fact that advertisers funnel their money elsewhere due to the seemingly growing appetite of Filipinos for alternative forms of entertainment.
ABS-CBN Corp. suffered a greater decline between the two as it posted a 41-percent drop in net income from Php1.3 billion in the first half of 2017 to Php741 million in the same period this year. As for GMA Network, its net income only slid by 21 percent to Php1.2 billion from Php1.6 billion.
Meanwhile, GMA Network ended the first half of the year with a six-percent decline in total revenues at Php7.2 billion while ABS-CBN Corp. saw its revenues slightly decline from Php19.34 billion to Php18.9 billion.
The revenue of GMA Network from elevision and radio airtime dropped by seven percent in the first half of the year at Php6.4 billion while ABS-CBN Corp.’s advertising earnings decreased by three percent to Php9.6 billion.
The latter’s slowing performance was also further aggravated by the lower revenues recorded from the movies it has released under its film production arm, ABS-CBN Films.
Source: Entrepreneur.com.ph
ABS-CBN & GMA Network's First-Half Revenue Declines Rapidly Since Pres. Duterte Took Office
Reviewed by Phil Newsome
on
August 23, 2018
Rating:
Reviewed by Phil Newsome
on
August 23, 2018
Rating:
