ABS-CBN cuts net loss by 55% in 2024

ABS-CBN slashed its 2024 net loss by 55%

MANILA, Philippines – ABS-CBN Corp. slashed its net loss by 55 percent to P4.37 billion in 2024, thanks mainly to lower production cost and other expenses.

However, its total topline figure fell by 6 percent to P17.33 billion for the period mainly because of a 25-percent decrease in cable TV and broadband revenues.

Advertising revenues, meanwhile, were flat at P6.7 billion.

On the other hand, content and production and distribution revenues climbed by 6 percent to P11.94 billion.

Production costs went down by 4 percent to P7.1 billion last year.