Wednesday, 16 December 2009

During crisis year: GMA-7 tops year’s P2.8-billion profit target

Manila Bulletin

The country’s biggest broadcast firm, GMA Network Inc., has already reached its entire 2009 target of P2.8 billion net income as of the end of last month and expects to do “much better” in the coming election year 2010, Chairman and CEO Felipe L. Gozon told reporters Monday night.

GMA is likewise confident that it will achieve its P11- to P12-billion target revenues for 2009. Already, the company has benefitted from some P400-million airtime sales from political advertisements ahead of the presidential elections and kept ahead of competition though it does not plan to increase its advertising rates until February, next year.

Its two international channels GMA Pinoy TV (GPTV) and GMA Life TV (GLTV) have also boosted revenues. Both channels are now available in the US, Canada, Europe, Middle East, North Africa, Australia, New Zealand, Japan, Guam, Papua New Guinea, Singapore, Hong Kong and other countries.
Subscribers totalled 266,000 as of end-November, according to Gozon.

For its 2010 capital expenditure, the network has allocated P400 million, or less, he disclosed. The bulk of the amount will go to upgrading facilities.

GMA is continuing its regional expansion to strengthen signal coverage in key provinces. It has activated its new five-kilowatt TV relay in Mt. Amuyao, Mt. Province which airs in Channel 5 last Oct. It has also upgraded transmitters and antenna systems for TV-10 Sto. Tomas, Benguet, TV-12 Cagayan de Oro, TV-7 Naga City and TV-12 Mt. Banoy, Batangas.

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