The consolidated net income of ABS-CBN Corporation (“ABS-CBN” or the “Company”) (PSE: ABS, ABSP), the country’s largest media and entertainment company, registered P1.339 billion for the first half of 2013, an increase of 44% compared with P927 million 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 first half income up by 44% due to strong advertising revenues |
ABS-CBN generated consolidated revenues of P17.061 billion from advertising and consumer sales, a 23% increase compared to last year.
Advertising revenues reached P10.061 billion, an increase of 29% from a year ago. Consumer sales amounted to P7.000 billion, posting a 16% increase. SkyCable continues to be a major driver of growth with revenues increasing by 30% to P3.297 billion. The growth in SkyCable revenues is partly attributable to the acquisition of Destiny Cable.
Total costs and expenses increased by 20% to P15.280 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 P1.653 billion, 20% lower than last year.
ABS-CBN led in national audience share and ratings for Urban and Rural audiences with primetime audience share averaging 46% in the first six months of 2013, a 16 percentage point lead over GMA, based on Kantar National TV Ratings.
For the first six 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, The Voice of the Philippines Saturday, Wansapanataym, World Junior Featherweight Champ, The Voice of the Philippines Sunday, and Huwag Ka Lang Mawawala.
ABS-CBN Film Productions, Inc. released 8 films in the first six months of 2013. Three of them– One More Try, Sisterakas and It Takes a Man and Woman grossed more than P200 million each.
