GMA Network Inc. saw its 2014 profit fall 40 percent due to the absence of political-related advertising booked the previous year.
GMA chair and CEO Felipe Gozon said in a statement Monday that 2014 net income hit P1.01 billion, which is lower compared to the P1.67 billion it earned in 2013.
He said revenues dropped 8 percent to P11.94 billion.
“2014 was both challenging and rewarding,” Gozon said in the statement.
Gozon added that the company had kept costs down, with operating expenses flat at P10.57 billion and a 7-percent reduction in our production cost.
Gozon said he was “optimistic” about 2015, citing early indicators so far this year.
“If the first three months are any indication, it reinforces our view that it will be a much better year for the company. Likewise, we see exciting times ahead for our viewers as we launch new, game-changing programs in the coming months,” Gozon said.
GMA kept its lead in viewer-rich Urban Luzon and Mega Manila for the full year of 2014, the company said in the statement, citing data from Nielsen TV Audience Measurement.
GMA cemented its total day household shares supremacy in the two areas, while leading across all day parts including the highly contested primetime slot.
The company added that its international business unit generated revenues of P1.1 billion last year, following the increase in subscriber count of GMA Pinoy TV, GMA Life TV and GMA News TV International by 4 percent, 8 percent and 59 percent, respectively.
It did not immediately provide absolute figures.
Moreover, GMA New Media Inc. “significantly increased its online advertising revenues” by 79 percent versus 2013 boosted by the sustained growth in page views and unique browsers for both GMA News Online and the GMA Network Portal, GMA’s official entertainment website.
“The increase is also attributed to the strategic and aggressive use of social media, and to enhancements that have made the websites more intuitive, relevant and reader-friendly,” the company added. Miguel R. Camus