GMA New Media end-Nov profit flies on Facebook, Youtube presence
The digital business unit of broadcast giant GMA Network Inc. reported a surge in profit at end November, led by advertising revenues and content partnerships.
GMA said in a statement that subsidiary GMA New Media Inc. saw net income hit P37.4 million, up 327 percent from January to November last year.
While still a fraction of the entire group’s profit, forecast at over P3.5 billion this year, the trend here indicated growth for the company’s digital initiatives.
Revenues of GMA New Media also jumped 50 percent to P249.6 million during the same period.
Gains came as the company broadened revenue sources “including content partnerships that were established last year, as well as cultivating emerging ones to further strengthen the uptrend in sales.”
Online advertising sales jumped 73 percent to P124 million. The company said earnings from programmatic advertising and key online partners contributed 80 percent of total sales equivalent to P99.3 million.
Its revenues from YouTube similarly increased by 94 percent to $700,000, driven by the GMA YouTube channel’s steady increase in views and traffic.
Revenues so far from over-the-top platforms and internet TV companies Hooq and iflix also increased by 218 percent compared to the same period last year.
“Partnering with various industry entities such as online industry leaders Facebook and YouTube has proven to be an effective strategy,” GMA New Media president and chief operating officer Judd Gallares said in a statement.
“These partnerships, in addition to opening new revenue streams, are beneficial in terms of strengthening GMA’s online presence particularly among the millennial market,” Gallares added. Miguel R. Camus
