TV5 Network Inc. said it is optimistic of breaking even next year on the back of improving revenues.
“We are looking at 50 percent growth target this year versus last year. If we’re able to achieve that growth rate this year, that would lead to breakeven by end of next year,” TV5 president and chief executive Chot Reyes said.
TV5 posted a 43-percent growth in revenues in 2017 from 2016.
The third-ranked network also said Netflix, the world’s leading internet entertainment company, recently acquired the rights to stream AMO, a TV5-produced show set against the backdrop of the Duterte government’s controversial drug war.
“TV5’s partnership with Netflix shows that the network is capable of producing high-quality programs that can be showcased to a wider audience worldwide,” said TV5 first vice president and head of content and programming Mellanie Yazon-Tolentino,
AMO is the first-ever 12-episode mini series from the Philippines to be streamed on Netflix. It will be available worldwide starting April 9, 2018.
“AMO is a bold and suspenseful show that has the potential of capturing thrill-seeking audiences worldwide,” Netflix vice president of content acquisition Robert Roy said.
“We’re always seeking to work with passionate, talented storytellers like Mr. (Brillante) Mendoza, to bring premium content to the more than 117 million Netflix members around the world, ” he added.
Tolentino said the company was looking at the possibility of producing more entertainment, news and sports content to boost revenue.
“Depending on how AMO will be received by the worldwide audience, TV5 is open to the idea of producing more entertainment content on top of its high rating sports content,” she added.
Tolentino added quality content—entertainment, news or sports—can bring in revenue for the company.
MediaQuest Holdings Inc. bought TV5 in 2009 from the Cojuangco Group for P4 billion, and acquired MPB Primedia of Malaysia, a TV5 major block-timer, for $16 million.