Business

ABS-CBN cuts net loss by 55% in 2024

MANILA, Philippines – ABS-CBN Corp. slashed its net loss by 55 percent to P4.37 billion in 2024, thanks mainly to lower production cost and other expenses. However, its total topline figure fell by 6 percent to P17.33 billion for the period mainly because of a 25-percent decrease in cable TV and broadband revenues. Advertising revenues,

ABS-CBN slashed its 2024 net loss by 55% MANILA, Philippines – ABS-CBN Corp. slashed its net loss by 55 percent to P4.37 billion in 2024, thanks mainly to lower production cost and other expenses.

However, its total topline figure fell by 6 percent to P17.33 billion for the period mainly because of a 25-percent decrease in cable TV and broadband revenues. Advertising revenues, meanwhile, were flat at P6.

7 billion. On the other hand, content and production and distribution revenues climbed by 6 percent to P11.94 billion.

Production costs went down by 4 percent to P7.1 billion last year. Subscribe to our daily newsletter By providing an email address.

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