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GMA Network’s profits up in Q1 2012

THE PHILIPPINES, MAY 16, 2012: Philippine network giant GMA Network, Inc. (GMA) has bounced back after a relatively lukewarm financial period in the latter part of 2011.

Its net income for Q1 of this year reached P388 billion, a strong start compared to last year’s closing, though it still did not reach last year’s Q1 profit of P534 million.
 
A major contribution to GMA’s total revenue came from core business unit GMA Channel 7, which had more than 90 percent share of total airtime revenues. Other sources of revenue came from Channel 11, which increased its revenue record by seven percent under the QTV format. GMA Radio, meanwhile, maintained the same top line level versus the first quarter last year.
 
In total, TV and radio airtime revenues came in at P2.707 billion, while revenues from subscriptions, licensing, and subsidiaries came in at P295 million – higher by eight percent from last year.
 
GMA International earned P231 million in the top line – an amount that was slightly higher than the figure generated in the first quarter of last year – thanks to improved subscriber take up, especially with GMA’s flagship international channel GMA Pinoy TV (GPTV), which boasts of almost 303,000 subscribers or over two million viewers worldwide as of May 10. Almost 40 percent of these subscribers also subscribe to the only Filipino lifestyle channel GMA Life TV (GLTV), which has one million viewers worldwide.

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