GMA Network profit soared to P2B in H1
GMA Network Inc. ended the first half with its profit soaring by more than threefold, thanks to a revenue boost from election-related ads.
In a disclosure on Wednesday, the Philippines’ dominant free TV player, said its net income reached P2 billion, significantly higher than P604.62 million for the similar period a year ago.
Consolidated revenues also jumped by 29.4 percent to P10.1 billion from P7.8 billion in the first semester of last year.
Advertising revenues got a boost from election-related placements for the midterm elections last May. This ended the first semester with P9.3 billion.
Meanwhile, operating costs climbed by 6 percent to P7.6 billion due to higher cash and noncash production costs, as well as general and administrative expenses.
Cash flow as measured by earnings before interest, taxes, depreciation and amortization stood at P3.8 billion.
GMA Network said its “robust performance” in the January to June period mirrored its “continuing dominance” in nationwide television ratings.
Citing recent data from Nielsen TV Audience Measurement, “Kapuso Mo, Jessica Soho” continued to be the most-watched show in Urban Philippines in the second quarter.
Its “Eleksyon 2025: The GMA Integrated News Coverage” also earned the highest viewership on-air and online compared to rivals.
“It remains the highest-ranking media company in the Entertainment and Media category in Southeast Asia,” it added.
GMA has secured the top spot on free TV after ABS-CBN Corp. went off the air in 2020 when Congress junked the renewal of its franchise.
In an unexpected twist in the market, GMA and ABS-CBN teamed up for the “Pinoy Big Brother (PBB) Collab,” a special edition of the popular reality show.
