The net loss of ABS-CBN Corp. more than doubled in the first half of 2026, as lower advertising and weaker group-wide revenue outweighed modest improvements in its core content business.
The media company reported a consolidated net loss of P1.83 billion for the first six months, up sharply from P852 million a year earlier. Consolidated revenue fell 17 percent to P6.88 billion, while operating expenses declined 5 percent, or P482 million, to P8.46 billion.
The numbers underscore the financial strain facing ABS-CBN as it continues rebuilding its business after losing its broadcast franchise, with its remaining operations increasingly dependent on content production, digital platforms, consumer sales, and partnerships across the wider group.
Its Content Production and Distribution business generated P5.76 billion in revenue, down 9 percent from the first half of 2025. The comparison was particularly tough because last year benefited from election-related advertising, BINI’s sold-out concert at the Philippine Arena, and the strong box-office performance of “My Love Will Make You Disappear.”
Still, beneath the headline decline were modest signs of resilience.
Excluding political advertising and one-off items from both periods, the segment’s recurring net loss improved 1 percent, while recurring EBITDA rose 2 percent.
Higher consumer sales, along with growth in international syndication and co-productions, helped cushion the advertising shortfall and soften the impact on the larger group.
The company is also counting on a stronger second half. Star Cinema released “Tayo Sa Wakas” in May, while BINI launched its world tour in June after its high-profile appearance at the Coachella Valley Music and Arts Festival in April. The tour runs through the second half, while more films and live events are still in the pipeline.
ABS-CBN expects these activities to lift revenue over the balance of the year.
The challenge is that ABS-CBN is no longer competing simply for audiences. It is competing to monetize them efficiently in a media market where advertising remains cyclical and expensive content increasingly has to earn its keep across multiple platforms.
For now, the numbers suggest the turnaround remains a work in progress. Its core content engine is proving more resilient than the consolidated figures imply, but not yet strong enough to offset losses elsewhere in the wider group, particularly in Cable TV and Broadband, which accounted for most of the revenue decline.
