ABS-CBN strays further from return to profitability

Losses doubled to P1.83 billion in H1

MANILA, Philippines — ABS-CBN Corp.’s new investors are entering the company at a more precarious state, as its first-half losses doubled to P1.83 billion, pushing it further from profit return.

The media giant yesterday reported a net loss of P1.83 billion in the six months to June, twice as much as the P852 million it sustained a year ago.

The former leader of Philippine free TV failed to plug the absence of election spending last year and also came out with fewer events and movies to improve revenue.

As a result, ABS-CBN suffered a 17-percent decline in revenue to P6.88 billion. In particular, the company’s content production and distribution income fell by nine percent to P5.76 billion.

ABS-CBN, similar to GMA Network Inc., blamed the absence of political ads from 2025 for the revenue drop. ABS-CBN also sang the same tune as GMA on external factors, saying economic challenges worsened its finances.

Worse, ABS-CBN succumbed to rising inflation, with expenses climbing by 17 percent to P8.46 billion in the first half.

“In addition, global developments this year had a negative impact on consumer sentiment and the domestic economy,” ABS-CBN said.

Still, ABS-CBN is confident its revenues would come out better in the second half, as its girl group BINI is going on a world tour scheduled until November.

Further, ABS-CBN is receiving a fresh infusion of P6 billion from new and long-time investors. The amount will be allocated for business expansion, supporting efforts to produce more content and widen revenue sources.

Private investor I&C Holdings Inc. is injecting P3.5 billion into ABS-CBN, trusting that it could still turn itself around after years of bleeding. The Lopez clan’s Creme Investment Corp., Mantes Corp. and Presta Holdings Co. Inc. are placing a combined P2.2 billion.

Lopez Inc. will add P300 million to ABS-CBN, giving it another shot at resuscitating itself after spiraling into yearly losses since it was denied a new franchise in 2020.

ABS-CBN made progress in nursing its losses in 2025, encouraging management to declare a return to profit in 18 months, or by the end of this year.