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Philippine’s ABS-CBN sees successful year

ABS-CBN Corp said it is seeing a better year this 2024 with much of its content reaching a larger audience through partnerships with various media companies and online platforms.

In the first quarter of the year, the company reported that its operating loss declined by 22 percent to P780 million, from P1 billion in the same period last year.

At its online Annual Stockholders’ Meeting, ABS-CBN Corp President and Chief Executive Officer Carlo Katigbak said many of its programs hold top spots on television, and many of its movies have also earned blockbuster figures.

“We remain confident that 2024 will be an even better year than last year,” he said.

Katigbak recognised some of the biggest content produced by ABS-CBN in the past year, including Star Cinema’s ” Rewind” which hit P900 million in sales, ” Batang Quiapo” which is currently the highest rated show on primetime, and “It’s Showtime,” which is now the country’s number one noontime show. 

Katigbak also praised “Linlang” which is among the most viewed programmes on Amazon Prime globally, and TV Patrol, ABS-CBN’s flagship newscast.

The ABS-CBN chief also hailed the all-girl group BINI, the nation’s biggest pop phenomenon of the year. Katigbak said the group held the top two spots for most listened to music tracks on Spotify Philippines.

“Our organisation is focused on creating the best content. To date, our programmes and movies have regained their prominence with our audiences and our storytelling talent remains largely intact,” he said.

Katigbak thanked all their partners including  GMA,  TV5,  A2Z, as well as  Amazon Prime,  Viu and  Netflix. 

He said ABS-CBN remains open to continue collaborations with these partners on future projects. The company is also studying the possible return to FM radio if there is a right partner and business model.

ABS-CBN News also continues to deliver reliable and credible news and information on TV and digital platforms. The ABS-CBN News Channel (ANC) will also continue to strengthen its offerings.