ABS-CBN Corp. said Wednesday it teamed up with Ayala Malls to build the first “experience store” at Trinoma mall in Quezon City.
ABS-CBN president and chief executive Carlo Katigbak said the “experience store” was the start of a strategic and long-term partnership between ABS-CBN and Ayala Malls. The store is set to open next year.
“Expect big things to come when media and retail converge to provide viewers and shoppers with the best in entertainment and retail,” he said.
The country’s largest media and entertainment company plans to open its first experience store in 2017.
The “experience store” allows visitors to be a part of the shows they follow and play the roles they always wanted to play. Also to be showcased is ABS-CBN’s wide assortment of merchandise that allows customers to own a piece of the Kapamilya stories they follow.
The company’s experience store is a part of the company’s rapidly expanding consumer business, which now accounts for P17 billion in annual revenues, or 4 percent of total revenues.
ABS-CBN’s consumer business is generated from three types of businesses, including subscription, ticketed experiences and durable goods.
The subscription business covers cable and broadband provider Sky, The Filipino Channel and ABS-CBNmobile.
The ticketed experiences category, which comes second in consumer business sales, includes movies, concerts, mall events, studio tours and the recently launched mini-theme park Kidzania. The ABS-CBN Experience Store falls under this category.
ABS-CBN earlier reported a net income of P2.1 billion in January to June, up 76 percent from P1.2 billion in the same period last year.
Consolidated revenue reached P20.9 billion in the first half, up 19 percent from P17.67 billion in the same period last year.