GMA 9-mo profit down 25%
GMA Network Inc. (GMA), one of the country’s largest television broadcast companies, saw a decline in profit at end-September, given the absence of last year’s election spending windfall.
GMA said in a statement Friday that net income during the nine-month period this year fell 25 percent to P2.32 billion compared to the same period last year. Total revenues were down almost 8 percent to P11.8 billion.
Removing the effect of election ads, however, GMA said recurring revenue was up 4 percent. It noted that nine-month 2017 airtime sales from “regular advertisers” grew 3 percent during the period.
This came from the combined contributions of GMA’s airtime revenue platforms GMA-7, GMA News TV, regional TV and radio.
It also saw revenue growth from its international operations and other businesses. These rose to P1.268 billion in the period in review, up by 12 percent.
GMA Network claimed a lead in viewership among urban television households.
“We are confident that we will be able to sustain our TV ratings leadership for the remainder of the year, as we continue to lead our competitor entering the last two months of 2017,” GMA Network chair and CEO Felipe L. Gozon said in a statement.
Meanwhile, operating costs were relatively steady with an increase of 2 percent to P8.58 billion.
GMA said its international operations, comprised mainly of channels GMA Pinoy TV, Life TV, and News TV International, continued to do robust business. Revenues here hit P935.8 million, up 9 percent.
Moreover, revenues from subsidiaries’ operations registered at P332.7 million in the nine-month period, higher by 22 percent.
This was led by GMA New Media Inc., GMA’s digital media and technology arm, with sales from external sources of P132.6 million, up 57 percent.
