ABS-CBN Corp said Friday it posted net income of P3.16 billion in 2017, as rising consumer sales aided revenue growth.
The country's largest media and entertainment company said consolidated revenues reached P40.7 billion last year. Consumer sales rose by a "healthy" 9 percent.
"Overall, we are pleased with our performance for 2017 and we are particularly happy to have exceeded our guidance for net income," said ABS-CBN chief financial officer Aldrin Cerrado.
The company maintained its TV ratings lead last year, headlined by the long-running Coco Martin police drama "FPJ's Ang Probinsyano," followed by "Your Face Sounds Familiar Kids" and "The Voice Teens."
It followed closely by Daniel Padilla and Kathryn Bernardo's fantasy series, "La Luna Sangre", and the news program "TV Patrol"
Also making to the list are "Langit Lupa," "Ikaw Lang ang Iibigin," "It’s Showtime," "ASAP," "Ipaglaban Mo," "The Better Half," "The Promise of Forever," "Hanggang Saan," "The Greatest Love," Pusong Ligaw,", "Wildflower," "My Dear Heart," "A Love to Last," "The Good Son," "TWBA," "Bandila," "Home Sweetie Home," "Little Big Shots," "MMK," "I Can Do That," "I Can See Your Voice," "Gandang Gabi Vice," "Wansapanataym" and "Rated K".
With the ratings-based pricing called CPIRP that has been in place since 2015, Cerrado said "improved ratings directly translate to increased revenues."
Total costs and expenses for 2017 were flat compared to the previous year. On a per-hour basis, costs were down 2 percent, ABS-CBN said.
Total assets rose to P75.1 billion as of end of December 2017 compared to P72.7 billion in 2016. The company’s equity base increased to P33.7 billion from P31.7 billion.
As of December 2017, ABS-CBN said it sold 4.3 million units of its TVPlus. By the end of 2018, the company hopes to breach the 6-million mark, ABS-CBN Group CFO Ron Valdueza said.
"Our subsidiaries also made significant contributions to our revenue growth," he said.
Star Cinema sold P2.9 billion in tickets. "The Revenger Squad" alone grossed almost P600 million.
SkyCable revenues grew 4 percent to P9.1 billion in 2017, driven by a 21-percent increase in broadband and DTH Subscribers. By year-end, the company had over one million PayTV subscribers and more than 200,000 broadband subscribers, bringing Sky’s total subscriber base to over 1.2 million.
The Filipino Channel staged "ASAP Live in Toronto" in Canada with a 7,000-strong audience.
Kidzania, the company’s educational theme park, attracted over 330,000 visitors for 2017, while TV shopping channel O Shopping generated P840 million in sales.
The country's largest media and entertainment company said consolidated revenues reached P40.7 billion last year. Consumer sales rose by a "healthy" 9 percent.
"Overall, we are pleased with our performance for 2017 and we are particularly happy to have exceeded our guidance for net income," said ABS-CBN chief financial officer Aldrin Cerrado.
The company maintained its TV ratings lead last year, headlined by the long-running Coco Martin police drama "FPJ's Ang Probinsyano," followed by "Your Face Sounds Familiar Kids" and "The Voice Teens."
It followed closely by Daniel Padilla and Kathryn Bernardo's fantasy series, "La Luna Sangre", and the news program "TV Patrol"
Also making to the list are "Langit Lupa," "Ikaw Lang ang Iibigin," "It’s Showtime," "ASAP," "Ipaglaban Mo," "The Better Half," "The Promise of Forever," "Hanggang Saan," "The Greatest Love," Pusong Ligaw,", "Wildflower," "My Dear Heart," "A Love to Last," "The Good Son," "TWBA," "Bandila," "Home Sweetie Home," "Little Big Shots," "MMK," "I Can Do That," "I Can See Your Voice," "Gandang Gabi Vice," "Wansapanataym" and "Rated K".
With the ratings-based pricing called CPIRP that has been in place since 2015, Cerrado said "improved ratings directly translate to increased revenues."
Total costs and expenses for 2017 were flat compared to the previous year. On a per-hour basis, costs were down 2 percent, ABS-CBN said.
Total assets rose to P75.1 billion as of end of December 2017 compared to P72.7 billion in 2016. The company’s equity base increased to P33.7 billion from P31.7 billion.
As of December 2017, ABS-CBN said it sold 4.3 million units of its TVPlus. By the end of 2018, the company hopes to breach the 6-million mark, ABS-CBN Group CFO Ron Valdueza said.
"Our subsidiaries also made significant contributions to our revenue growth," he said.
Star Cinema sold P2.9 billion in tickets. "The Revenger Squad" alone grossed almost P600 million.
SkyCable revenues grew 4 percent to P9.1 billion in 2017, driven by a 21-percent increase in broadband and DTH Subscribers. By year-end, the company had over one million PayTV subscribers and more than 200,000 broadband subscribers, bringing Sky’s total subscriber base to over 1.2 million.
The Filipino Channel staged "ASAP Live in Toronto" in Canada with a 7,000-strong audience.
Kidzania, the company’s educational theme park, attracted over 330,000 visitors for 2017, while TV shopping channel O Shopping generated P840 million in sales.
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