GMA profits soar 79%, ABS-CBN losses mount

The Kapuso network saw its net income surge by 79% to P3.9 billion in the first 3 quarters of the year, documents submitted to the Philippine Stock Exchange showed.

Meanwhile, the Kapamilya network reported a net loss of P7.3 billion in the January-September period, a reversal from the P2.4-billion profit a year ago. GMA saw a 2% increase in advertising revenues to P11.5 billion, while ABS-CBN's advertising sales fell 65.8% to P5.9 billion. "The closure of biggest rival, ABS-CBN, due to the expiration of their broadcast franchise last May 5 and the subsequent denial last July 10 by the House committee on legislative franchises of ABS-CBN's new application also contributed to the increase in sales due to the shift in some advertising placements," GMA said.ABS-CBN likewise trimmed expenses by 23% and paused the production of new content.

The TV industry's earnings were expected to fall in 2020, as companies spend less on advertising during the coronavirus pandemic. There are also no political advertisements this year, too.

I don't know how long I'm gonna put up with the clown and his followers shenanigans until 2022.

This is expected. 🤷🏼‍♀️

That is why there must be an investigation into the financial holdings of every congressman who voted against the ABS-CBN. Let's see who had financial connections to GMA. If we dig deep enough I believe we will find some who made investments in GMA shortly before the vote.

stating the obvious!!!

Samantalahin nio habang di pa nakakabalik ang ABS. No choice naman walang ibang mapanooran eh.🙄

What do we expect? This is just a sad reality for ABS CBN. I just hope GMA 7 have backbones to go against this administration if needed. Balance and fair news reporting.

So pwede n ba mag reinvest to widen their reach? Digital box nga lang after 6 years since naglaunch ang abscbn. 🤦‍♀️🤦‍♀️🤦‍♀️

GMA is not about Serbisyong Totoo because they just keep quite to depend journalism Para sa kita ng company.

Is that something to be surpeised about?

Enjoy while it lasts, abscbn will bounce back

maniwala ka jan... di mag tatagal pag aagawan na ng sotto brothers at ni willie ang pag mamay ari ng network nyo noh.. rejoice rejoice rejoice now coz of ur good earnings..

Can integrity and impartiality be measured by the amount of profits earned?

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