ABS-CBN Corp. said it expects to reduce the net losses of its mobile and digital terrestrial television businesses next year.
ABS-CBN Mobile posted a net loss of P560 million while its DTT business incurred a P470-million loss in the nine-month period.
“We are starting to see see improvements in the revenues of DTT. We will start selling minutes for DTT channels,” ABS-CBN chief financial officer Aldrin Cerrado said.
The broadcast network aims to sell 2 million ABS-CBN TVPlus by end-December, up from 1.6 million boxes sold as of September.
“For ABS-CBN Mobile, we are looking at trimming down the loss by next year,” Cerrado said.
The company had over 600,000 subscribers as of September, up by 50 percent from a year ago.
The country’s leading media and entertainment company reported a net income of P2.85 billion in January to September, up from P1.89 billion in the same period last year.
ABS-CBN’s revenues increased 12 percent to P31 billion from P27.76 billion last year.
Cerrado attributed the growth to strong advertising revenues in the first nine months, which were boosted by election-related spending and the continued leadership in ratings of primetime shows.
“Our ratings performance is key since we have adopted the cost per individual rating point pricing scheme,” Cerrado said.
“We are confident that we will meet our earnings guidance of between P3.2 and P3.5 billion for 2016,” he said.