After ABS-CBN lost its free television franchise, earning its former profit is difficult to establish. However, the Lopez group promised to adapt to resilient alternative broadcasting platforms for the Network to remain on top.
The Lopez Holdings president Salvador Tirona guaranteed stockholders to be confident regarding ABS-CBN shifting to digital platforms.
“Given that ABS-CBN will take a little more time to return to profitability, it is incumbent on Lopez Holdings to conserve its financial resources and ensure that investee ABS-CBN recovers industry leadership under this new business model,” Tirona said.
The shift in using alternative broadcasting platforms, ABS-CBN’s YouTube channel, facebook pages, and other streaming platforms have attracted a lot of Kapamilya followers both local and abroad.
In March 2021, the YouTube channel of ABS-CBN Entertainment has become the most subscribed and most viewed account in the Southeast Asian region with a huge follower base of 32.7 million subscribers and 43 billion views.
Apart from using online platforms to reach their audience, ABS-CBN has also considered airing their entertainment programs on TV5 Network and A2Z Channel 11 through Zoe Broadcasting Network Inc block time deal.
ABS-CBN suffered from a devastating net loss of P13.34 billion in 2020—about 404 percent bigger than the net loss they have experienced in 2019, which is only about P2.64 billion.
“ABS-CBN will continue to rely on its strength in content creation,” Tirona promised.
