GMA Network Inc. said Wednesday it is open to a possible expansion of its partnership with ABS-CBN Corp. as part of its strategy to further build its audience.
“The collaboration between GMA and ABS-CBN with respect to the airing of ‘It’s Showtime’ 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,” GMA president and chief executive Gilberto Duavit Jr. said during the company’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 said.
Duavit said the “unexpected developments” on television opened doors to a partnership that the industry also “deemed surprising.”
The popular program “It’s Showtime!” was made available on GTV in June 2023 through a co-production agreement with ABS-CBN. The partnership was later extended for its broadcast on the noontime slot of GMA’s main channel starting April 2024.
Duavit also said GMA continued to expand its presence in the digital space, more solidly establishing 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 year- on-year.
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.
“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,” Duavit said.
“While 2023 was relatively a good year for GMA, the network closed the year with a consolidated net income of P3.162 billion, down by 42 percent year-on-year,” he said.
GMA Network’s 2023 net consolidated revenue amounted to P18.637 billion, a 14-percent decline year-on-year.