GMA Network Inc. on Wednesday warmed up to the idea of expanding its partnership with ABS-CBN Corp. beyond what the former ratings rivals have initially collaborated on in the recent past.
“The collaboration between GMA and ABS-CBN with respect to the airing of ‘It’s Showtime’ (program) was actually preceded by a number of other partnerships, all of which have been very smooth and characterized by reasonableness and have benefitted all the parties,” Gilberto Duavit Jr., GMA president and chief executive said at the network’s virtual annual stockholders’ meeting.
“Having said that, there is no reason not to assume that there may be future collaborations or partnerships in the future,” he added.
According to Duavit, “unexpected developments” in the broadcast industry has opened doors to a partnership that has surprised even television executives.
In June last year, the popular program “It’s Showtime!” was made available on the network’s GTV channel through a co-production agreement with ABS-CBN. The program was later extended for broadcast on the noontime slot of GMA’s main free to air channel starting last April.
Duavit also said GMA continues to widen its presence in the digital space and more solidly establish its relevance to the growing online audiences, particularly in the key social media platforms.
“Through all our content-producing teams within the network and its subsidiaries, we’ve expanded our content offerings, ramped up the volume of exclusive digital content, and implemented specific strategies to enhance audience growth while improving engagement and audience diversity,” Duavit said.
GMA Network’s digital online ad revenue, inclusive of its websites, grew 72 percent in annual terms, he preorted.
The network’s official online channels on YouTube, Facebook, and TikTok had 45.2 billion video views in 2023, a 38 percent increase from 2022.
Through the economic headwinds and the constantly shifting viewing habits and preferences of consumers, Duavit remains resolute: “ We leave no stone unturned in fulfilling our commitment to continuously grow and evolve, as we further build our audiences, maintain our relevance, and be where our audiences are, whether in or out of their homes.”
“While 2023 was relatively a good year for GMA, the network closed the year with consolidated net income of P3.162 billion, down 42 percent year-on-year,” he said.
GMA Network’s net consolidated revenue in 2023 amounted to P18.637 billion, a 14 percent decline from a year earlier.
