GMA Network Inc., the Philippines’ largest broadcast network, said Thursday its board of directors approved the conversion of P18.75 million in advances into equity for its wholly-owned subsidiary, GMA Network Films, Inc.
The investment decision is a strategic move aimed at increasing GNFI’s paid-up capital, aligning with the subsidiary’s current and upcoming film project requirements. The financial boost will help GNFI resume film production after several years of hiatus, signaling a renewed focus on creating cinematic content.
GMA Network’s decision is apparently spurred by recent slew of local movie blockbusters as well as gains in streaming platforms.
By reinvesting in its film subsidiary, GMA Network seeks to expand its content offerings and engage a broader audience. This strategic initiative not only underscores the network’s dedication to enhancing production capabilities but also highlights its ambition to adapt to changing viewer preferences in the entertainment landscape.
