Broadcast giant GMA Network, Inc. (GMA) reported strong financial results for the third quarter owing to increased advertising sales across its major revenue platforms.
Consolidated gross revenues for the third quarter of 2012 reached P3.822 billion reflecting a double-digit growth of 13 percent from the P3.384 billion recorded in 2011, while net income rose 9 percent to P573 million from P525 million in the previous year.
The increase in Q3 earnings was driven mainly by the substantial growth in airtime revenues, which exceeded last year’s figure by 14 percent or P443 million to P3.537 billion.
This brings the Company’s total gross revenues for the first nine months of 2012 to P10.612 billion, an increase of 5 percent or equivalent to at least half a billion year on year.
In the said period, GMA’s airtime revenues grew 5 percent to P9.739 billion versus last year’s P9.253 billion.
Parent company Channel 7 posted a 5 percent increase in airtime sales, while leading local news channel GMA News TV grew its advertising revenues by 24 percent.
Regional TV, on account of its aggressive expansion efforts, also improved its revenues from national and local sales by 24 percent. Radio, on the other hand, hiked up its earnings and surpassed last year’s solid performance by 4 percent.
GMA Chairman and CEO Atty. Felipe L. Gozon said that the management is pleased with the Company’s third quarter financial performance, and forecasts sustained revenue growth as political ads are expected to come on stream in the last quarter.
“Given the third quarter figures, we are optimistic that the fourth quarter will bring even better financial results as we expect political ads to further boost our earnings for the year,” Gozon said.
Meanwhile, revenues from other sources for the nine-month period factored in an additional P873 million, 2 percent or P17 million higher than last year.
GMA New Media, Inc.’s recently formed techno-creative unit Digify, Inc. generated more than half of the net increase in this revenue category
The subscriber uptake of GMA’s flagship international channel, GMA Pinoy TV, remained on the uptrend at 320,000 (or an estimated 2.1 million), 12 percent higher year on year. GLTV, on the other hand, registered 121,000 (or an estimated 1.1 million) subscribers, up 1 percent from last year. During the third quarter, GMA News TV International was launched in du Mobile (UAE), Maxxi (Malaysia mobile), and Digi (Malaysia mobile).
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