Filed under: GMA No.1 evidence
Article posted August 19, 2005
GMA poised to reach target with P1.044B net income in H1
Leading broadcast company GMA Network, Inc. remains on track of reaching its year-end target as it posted a net income of P1.044 billion for the first six months of 2005, 39 percent higher than its net profit of P752 million for the same period last year.
Gross revenues for the first six months reached P4.5 billion, an increase of 24% over last year’s P3.6 billion for the same period. Revenues from both TV and radio operations posted increases during the first half of the year.
Operating expenses grew 20% to P2.07 billion due to higher production costs, salaries, and other expenses as the Network features three primetime “super soaps” that have helped solidify GMA-7’s lead in TV ratings particularly in the much coveted early primetime block.
Earnings before interest, taxes, depreciation, and amortization stood at P1.9 billion during the first half of the year, 29% higher than last year’s figures.
Felipe L. Gozon, GMA Network chairman, president and CEO, is optimistic that the company will finish strong this year and expects more positive results after the Network completed its expansion projects.
“Once our regional and international expansion efforts are completely in place, we expect to improve further on our performance,” he said.
Gozon is also confident that the Network can proceed with the much-awaited IPO by early next year.
GMA continues to lead in TV ratings in all day parts, including the highly important primetime block. For the period January to June 2005, GMA posted an average total day ratings of 18.8% against its competitor’s 13.8%, based on data from AGB Philippines.
Seventeen of the top 20 programs for the first six months of 2005 were from GMA based on data from Nielsen while according to AGB data, 14 GMA programs were among the top 20. GMA launched “Sugo” on July 4, another primetime hit which helped maintain the Network’s strong ratings performance in primetime.
GMA continues to hold on-the-ground activities in key cities across the country to increase awareness among local viewers of its top-rating programs. The Network has been showcasing its best public affairs documentaries and has been providing free medical services in major cities, among other relevant activities, that have created lasting impact among its viewers.
GMA also launched nationwide the third edition of its highly-popular reality-based “artista” search, Starstruck, over the weekend.
GMA’s international channel, GMA Pinoy TV, was successfully launched on July 23 in San Francisco, USA. After only two days of launching the channel, GMA Pinoy TV already has thousands of subscribers in the Bay Area, which according to Comcast, the US cable carrier, broke the records for ethnic programs. GMA Pinoy TV is also available in Japan and Guam.
GMA Network is expected to begin airing programs for Channel 11 by November this year, providing an additional platform for GMA to showcase new programs and talents.
GMA Films’ latest flick will be shown in major theaters nationwide soon and the film outfit is producing a movie version of the primetime hit, “Mulawin,” in time for the Metro Manila Film Festival in December.
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