ABS-CBN’s financial bleeding worsens
ABS-CBN Corp. sank deeper into the red in the first half as it grappled with softer advertising and overall revenues compared with last year’s election period, which had also benefited from more events and movie releases.
In a disclosure on Monday, the Lopez-led media giant said its consolidated net loss more than doubled to P1.83 billion in the first half from P852 million a year earlier.
This came as total consolidated revenues fell 17 percent to P6.88 billion, while ABS-CBN’s content production and distribution business alone recorded a 9-percent decline in revenues to P5.76 billion.
ABS-CBN attributed much of the revenue decline to its cable television and broadband businesses.
“In addition, global developments this year have had a negative impact on consumer sentiment and the domestic economy,” it said.
No election boost
Without political advertising and one-off items, ABS-CBN said the net loss of its content production and distribution business would have improved by 1 percent, while earnings before interest, taxes, depreciation and amortization would have grown by 2 percent.
Apart from the absence of election-related advertising, ABS-CBN said its bottom line was also weighed down by fewer events than in the first half of 2025, when it had hosted the sold-out concert of P-pop girl group Bini.
But the media company said the decline was partly offset by higher consumer sales and growth in its syndication and coproduction segments during the January-to-June period.
Its consolidated operating expenses also fell by 5 percent to P8.46 billion in the first half.
Recovery hopes
Looking ahead, ABS-CBN expects stronger second-half revenues to lift its full-year performance, banking partly on Bini’s world tour, which began in June.
“The tour runs through the second half and the rest of the film and live events slate is still to come,” it said. Revenues are expected to improve over the balance of the year.”
Apart from these, loss-making ABS-CBN is also set to receive a hefty P6-billion capital boost from recently announced, but yet-to-be-finalized, share subscriptions.
A chunk of the fresh funds, or P3.5 billion, will come from I&C Holdings Corp., a wholly Philippine-owned private investment holding company, while three companies representing branches of the Lopez family will subscribe to another P2.2 billion. The remaining P300 million will come from Lopez Inc.
The fresh funds are expected to “provide a strong foundation for the company to adapt, build a sustainable content-led business, and create long-term value,” according to I&C Holdings Corp.
