Aside from the ratings rivalry, the Philippines’ two largest networks, ABS-CBN and GMA Network also run head to head in terms of profit.
In the latest reports disclosed by both companies to the Philippine Stocks Exchange (PSE), ABS-CBN saw a decrease of 41% year over year while GMA Network declined 6% from its previous year’s profit.
ABS-CBN
The country’s biggest media company ABS-CBN Corp. ended its first half of 2018 with lower profits compared to its last year’s earnings due to lower sales from its business segments while increased costs and expenses.
At the end of the 1st six months of the year, ABS-CBN reported a net income of 741 million pesos, 41% lower than previous year’s earnings according to its company disclosure to the PSE.
The company’s total revenues for the 1st half of 2018 were down by 2.1 percent to 18.94php billion. This is due to the decrease of 3.1% from its advertising revenues and decline of 1.1% from its consumer sales.
Besides the decline in their revenues, the company reported increase in their cost and expenses. ABS-CBN has disclosed 4% highest cost and expenses at 18.5php billion.
That was contributed by 8.9% increase in production cost for this year compared to the previous one.
GMA Network
Meanwhile, for GMA Network, the company has reported a profit decline in the first half of the year due to drop in its advertising revenue for both TV and radio.
On its disclosure report to the Philippine Stocks Exchange, GMA Network reported 1.232php billion net income from January to June 2018, a 21% decrease year over year.
The decrease was contributed by a 6% decline in its revenue to 7.25php billion, 6.4php billion of which coming from 7% drop in TV and radio airtime sales which account for 88% of their total revenue for the first half.
Alongside decrease in revenue, the network’s expenses rose 6% to 2.64php billlion in general and administrative expenses. Operating costs meanwhile grew at an insignificant amount of 5.57php billion or 0.5%.
ABOUT: By The Numbers is a weekly column written by Ron Mia (@rojan88 on Twitter, @akosirojan88 on IG, Ron.Mia on Facebook), a Blogger by night and Data Analyst by day.
The column focuses on analyzing TV shows based on their survey numbers. A detailed, no holds barred analysis of what’s hot and what’s not in the world of television.
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