TV5 Network Inc. is confident to meet its “breakeven” goal for 2019, following its success last year to reduce by 30 percent its net loss on the back of constant improvement in its operations and complete transition to sports programming.
“That still remains to be the target. But I think the more important thing is in 2018, we ended up improving our bottom line—in fact, by 30 percent. And I felt that was a great performance, especially given the difficulties that the others in our industry are experiencing,” TV5 President and CEO Vincent P. Reyes told reporters in an interview after their press briefing for the rebrand of AksyonTV held in Makati City on Thursday.
He attributed the reduction on their losses mainly to their continued operational efficiencies and partnership with ESPN through the launch of the co-branded ESPN5 channel in October 2017.
“It gave us a lot of content at a cost which was not as prohibitive as it was when we used to do general entertainment,” he said of their tie-up with the leading global sports network.
“Being in the general entertainment [or] showbiz category really entails a lot of expense to be competitive. And because we made a conscious decision not to do that anymore and shift to sports, it allowed us to, like I said, greatly reduced our expenditures,” he said.
When pressed about his prospects for 2019, the top executive sees it “very promising” given the results of the first year of their shift to sports.
“And I think when the changes gain more traction here—this is now Year 2, and then ‘5 Plus’ coming onboard—hopefully, we can further improve that at the end of the year,” Reyes said.
AksyonTV is set to relaunch as 5 Plus on January 13, mainly serving atypical entertainment, lifestyle, sports and sports-related content while targeting younger viewers.
“So doing things like the launching of 5 Plus just give us greater impetus to grow and target our younger audience,” he said.
5 Plus is aimed at serving content attuned with the pace of the viewers’ active lifestyle and interests.
This secondary channel to 5 will cover X Games, e-sports and collegiate games.
Meanwhile, the simulcast of Radyo5 news programs airing on AksyonTV will be transferred to its new home on Cignal.
The repositioning also sees a complete overhaul of the channel’s look, with the end goal of visually communicating its new image.
A young, dynamic design language was developed to represent the new programming and target audience.
Music identity and sonic branding also complement the visual changes of the channel.
A selection of 5 Plus’s atypical sports coverage will also be made available on the Web via www.tv5.com.ph and on 5’s social-media platforms.
The latter will continue to promote more established sports like basketball, volleyball and boxing, among others.
https://businessmirror.com.ph/tv5-improves-bottom-line-by-30-in-2018/
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