GMA Network Inc. is expanding its footprint in the music industry through a major 50:50 joint venture with Viva Records Corp., set to launch in 2026 with an initial paid-in capital of ₱2 million.
In a disclosure to the Philippine Stock Exchange on Friday, GMA Network said the new company will engage in music production, recording, marketing, promotion, distribution, artist management, and music publishing.
“The joint venture aims to consolidate the resources and capabilities of GMA and Viva Records in the music industry in and out of the Philippines,” the network said in its statement.
Under the agreement, both GMA Network and Viva Records will hold equal ownership shares in the joint venture. Each company will also appoint three incorporators or directors to the new firm.
Leadership roles will be shared between the two media giants—Viva Records will designate the President and Assistant Corporate Secretary, while GMA Network will appoint the Treasurer and Corporate Secretary.
The formation of the new entity remains subject to board approvals from both companies and the final review of incorporation papers by the Securities and Exchange Commission (SEC).
According to GMA Network, the collaboration is expected to positively impact its medium to long-term business performance, citing benefits from the sharing of “resources, knowledge, and expertise” between the two entertainment powerhouses.
The partnership marks a significant alignment between GMA Network, one of the Philippines’ largest media conglomerates, and Viva Records, the music label under Vic del Rosario Jr.’s Viva Communications Inc., which manages and produces some of the country’s biggest stars, including Sarah Geronimo and Regine Velasquez-Alcasid.
While GMA Network already operates its own label, GMA Music, the alliance signals a bold push to strengthen its position in the music and digital entertainment space, leveraging Viva’s extensive catalog and artist roster.
In 2024, GMA Music more than doubled its dividend payout to ₱6.9 million from ₱3 million the previous year, underscoring the growing profitability of its music operations.
This move comes as GMA Network continues to accelerate its digital transformation, particularly in content creation and streaming, which have become vital growth drivers in the post-pandemic entertainment landscape.
Meanwhile, Viva Communications—whose ventures span film production, digital media, and lifestyle brands such as Botejyu, Greyhound Café, and PaperMoon—continues to expand its entertainment portfolio despite shelving its reported 2024 IPO plans.
With this partnership, the country’s leading broadcast network and one of its most established music labels are poised to create a powerhouse entity capable of shaping the future of Original Pilipino Music (OPM)—combining GMA Network’s massive multimedia reach with Viva’s proven record in artist development and music production.
