GOZON
Employee bonuses will bloat and dividend payouts will surge for local broadcasting companies this year as politicians—led by the country’s five presidential candidates—burn cash through massive advertising budgets ahead of the May national elections.
Hopes are high from within the industry that 2010’s profit levels, which saw former Senator Manuel Villar reach deep into his pockets in a tight race for the presidency, could be matched in 2016, officials said.
The bullish outlook for the year comes amid creeping competition from cable, new free-to-air TV players and online content—challenges that the two major networks are not equally equipped to face.
“We are hoping to match, if not surpass, our performance in 2010, which is one of the company’s banner years in terms of profitability,” GMA Network chair and CEO Felipe Gozon said in a recent interview.
BUSINESS
BUSINESS
BUSINESS
GMA Network, which operates one of the two channels in the Philippines’ television duopoly, reported that 2015 profits more than doubled to P2.13 billion, thanks partly to campaign spending that began late last year. Gozon said 2016 would easily beat last year’s performance.
TAN
Higher earnings allowed GMA to raise payouts to investors. About P1.9 billion in profits were given to investors earlier this year, Gozon said.
