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MANILA – November 14, 2013 – The consolidated net income of media and entertainment company ABS-CBN Corporation registered P1.891 billion for the first nine months of 2013, an increase of 22 percent compared with P1.555 billion in the same period last year.
The growth in income was fuelled by strong regular advertising revenues as well as election-related ads, ABS-CBN said in a press release.
ABS-CBN generated consolidated revenues of P25.227 billion from advertising and consumer sales, a 16 percent increase compared to last year.
Meanwhile, advertising revenues reached P14.773 billion, an increase of 20 percent from a year ago. Consumer sales amounted to P10.454 billion, posting an 11 percent increase. SkyCable continues to be a major driver of growth with revenues increasing by 21 percent to P4.980 billion. According to ABS-CBN, the growth in SkyCable revenues is partly attributable to the acquisition of Destiny Cable.
Total costs and expenses increased by 15 percent to P22.749 billion brought about by increases in production costs, cost of sales and services, and general and administrative expenses.
Capital expenditure and film and program rights acquisition amounted to P2.810 billion, 20 percent lower than last year.
ABS-CBN said the company led in national audience share and ratings for Urban and Rural audiences with prime-time audience share averaging 47 percent in the first nine months of 2013, a 16 percentage point lead over GMA, based on Kantar National TV Ratings.
For the first nine months, the top 20 programs for Total Philippines (Urban and Rural) were from ABS-CBN, with the following occupying the Top 10 slots: Juan dela Cruz, Juan dela Cruz Ang Simula, Ina Kapatid Anak, MMK Ang Tahanan Mo, Princess and I, Wansapanataym, Got to Believe, World Junior Featherweight Champ, TV Patrol Weekday and Aryana.
