ABS-CBN revenue drops 17% as H1 loss widens to P1.83B
MANILA, Philippines — ABS-CBN Corp. posted P6.88 billion in consolidated revenue in the first half of 2026, down 17% from the same period last year, while its net loss more than doubled to P1.83 billion.
The media company said consolidated operating expenses fell by 5%, or P482 million, to P8.46 billion. Its net loss widened from P852 million in the first half of 2025.
ABS-CBN's content production and distribution business generated P5.76 billion in revenue, down 9% year-on-year.
Excluding political advertising and one-off items from both periods, the segment's recurring net loss improved by 1%, while recurring earnings before interest, taxes, depreciation and amortization, or EBITDA, rose by 2% from the same period last year, the company said.
ABS-CBN attributed the decline in advertising revenue partly to election-related advertising that boosted its figures in 2025. It also cited global developments that it said weighed on consumer sentiment and the domestic economy.
The company also had fewer movie releases and major events in the first half of 2026 compared with the same period last year, when revenues benefited from BINI's sold-out Philippine Arena concert and the performance of the film "My Love Will Make You Disappear."
Higher consumer sales and growth in international syndication and co-productions partly offset the decline, ABS-CBN said.
The company expects revenues to improve over the rest of the year, citing Star Cinema's "Tayo Sa Wakas," released in May, and BINI's world tour, which kicked off in June after the group's performance at the Coachella Valley Music and Arts Festival in April.
"The tour runs through the second half, and the rest of the film and live events slate is still to come," ABS-CBN said.
P6-billion to raise
ABS-CBN also announced in August that it plans to raise P6 billion in new equity to strengthen its balance sheet and support its transition into what it described as a more sustainable, content-led media and entertainment business.
Crème Investment Corp., Mantes Corp. and Presta Holdings Co. Inc., representing three branches of the Lopez family, have committed to subscribe to P2.2 billion worth of ABS-CBN shares using personal resources.
I&C Holdings Corp. committed to subscribe to another P3.5 billion worth of shares, while Lopez Inc. will subscribe to P300 million. The investments remain subject to definitive agreements and applicable corporate and regulatory requirements.
ABS-CBN has been restructuring its business since losing its broadcast franchise in 2020. On July 10 that year, the House Committee on Legislative Franchises voted to reject the company's bid for a new franchise.
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