GMA Network targets P8.2B net income in 2022

Broadcast giant GMA Network Inc. is targeting a higher bottom line this year after recording its highest net income in the company’s history.

During the company’s annual stockholders meeting on Wednesday, GMA Network Chairman and CEO Atty. Felipe L. Gozon disclosed the company’s profit and capital expenditure (capex) guidance for 2022.

“The company’s projected net income after tax this year is pegged at P8.2 billion, while capex for 2022 is estimated at about P2 billion,” Gozon said.

In 2021, GMA network booked a net income of P7.57 billion, up 26% year-on-year and the highest on record in the network’s history.

Consolidated revenues grew 16% to P22.45 billion last year.

As of the first quarter of 2022, GMA Network continued to post solid growth with consolidated revenues growing by 7% and net income after tax increasing by 5% year-on-year.

“We are optimistic that earnings post-election heading into fiscal year 2023 will be on track as projected,” Gozon said.

Eleksyon 2022 coverage

GMA News and Public Affairs’ coverage of the May 9 elections bested the competition in terms of online views and TV ratings, the company’s chairman said.

“GMA’s Eleksyon 2022 coverage was the biggest and most trusted election coverage in the country. And so far, it was also the most expensive for GMA,” Gozon said.

“GMA, GTV, and GMA News Online were far ahead of the competition in terms of ratings and online views,” he added.

The GMA Network chairman noted that GMA was the first TV network to broadcast the partial and unofficial results of the elections, “minutes ahead of competitors.”

“Filipinos tuned in to the Eleksyon 2022 website for the latest news and results of the polls on May 9 and 10 resulting in 78.9 million page views for GMA News Online over two days,” Gozon said.

“The livestream of the Eleksyon 2022 marathon coverage drew 7.7 million views on YouTube, 11 million views on Facebook, and 2.4 million views TikTok from May 8 to 10,” he added.

Citing data from multi-platform video consumption tracker Tubular Labs, Gozon said GMA News’ platforms “continued to be the most watched accounts among Philippine news organizations during the same period.”

“The GMA News YouTube channel had 40 million views on May 8 and May 10 compared to only 15 million for ABS-CBN. Meanwhile, the GMA News Facebook page had 48 million views as compared to 32 million for ABS-CBN News,” he said.

More partnerships with ABS-CBN

GMA Network is also open for more partnerships with ABS-CBN after the new media giants sealed a historic deal last month, according to the company’s chairman.

“After we have broken the ice, the door is now open for other partnerships with ABS-CBN that will be mutually beneficial to both of us,” Gozon said.

Last month, GMA Network and ABS-CBN signed a landmark deal allowing GMA Network to air various movies from Start Cinema - the film outfit of ABS-CBN. 

These movies include favorites such as global blockbuster hit “Hello, Love, Goodbye” starring Asia's Multimedia Star Alden Richards and Kathryn Bernardo, “It Takes a Man and a Woman” with John Lloyd Cruz and Sarah Geronimo, “My Ex & Whys,” which is top-billed by Enrique Gil and Liza Soberano, and more.

“We are currently in talks with ABS-CBN for another fresh batch of movies for acquisition. We are waiting for the available movie list from them for our team’s review and consideration,” Gozon said.

Prospects under Marcos admin

The GMA Network chairman also said he is expecting to have a harmonious relationship with the incoming administration of presumptive president Ferdinand Marcos Jr.

“Because we compliant with requirements of our congressional franchise and other applicable laws, we do not expect that we will be encountering legal problems with the new government,” Gozon said.

“We have no reason to believe that our relationship with the new government will not be friendly, harmonious, and proper,” he added.  —KBK, GMA News