GMA Network Inc., the country’s leading broadcast company, said Wednesday it will invest more than P20 billion from 2021 to 2023 to produce more content and support digital TV expansion.
The company said in a statement the projected three-year capital expenditures would support the construction of a new building and state-of-the-art studios inside the GMA Network complex in Quezon City. A huge portion of the budget would also be allocated for content production and post-production.
The budget covers the continuing expansion of its digital terrestrial television reach and various projects in the regions to strengthen GMA’s presence nationwide.
The network is also set to officially unveil early this year its mobile digital TV receiver, GMA Now, which will enable viewers to watch TV on the go for free with bonus interactive features.
It said while the network was not spared from the global crisis in 2020 amid the COVID-19 pandemic, the seven-decade strong media giant was able to recover its airtime sales in the second half, following the highly successful launch of its DTT receiver, GMA Affordabox in June.
“Surpassing seven decades is no easy feat for our company especially during an exceptionally challenging year in 2020, but we are very proud of what we have achieved so far through our people’s dedication and our commitment to Serbisyong Totoo,” GMA chairman and chief executive Felipe Gozon said.
“We wholeheartedly thank all our Kapuso for their unrelenting support to GMA. Rest assured that your Kapuso Network will continue to provide only the best for our viewers,” he said.
Aside from its programs on main channel GMA-7 and on GMA News TV, the Kapuso Network also offers viewers a variety of content through digital channels—Heart of Asia for avid Asianovela fans; Hallypop for Asian pop culture; and DepEd TV to help Filipino learners access DepEd’s blended learning program across the country.
It said to diversify its programming, GMA is the new home of the National Collegiate Athletic Association for Season 96 to 101—including the centennial year of the Philippines’ first athletic league in 2024.