GMA7 [P8.30] is up 6.4 percent this week and has been on an upward trajectory since the end of last year. The rally was caused by a 128 percent increase in net profits for 2020, which culminated in a huge cash payout, rendering it the top paying dividend stock on the PSE.
GMA7 has entered into a multi-year alliance with iQIYI, one of the world’s leading streaming video sites. With over 101.7 million paying subscriptions and 530 million monthly active users, the network has been nicknamed the “Chinese Netflix.” It is headquartered in Beijing and is operated by Baidu, China’s biggest online search engine. At the end of this year, GMA7 intends to have 12 new shows and over 1,000 catch-up episodes exclusively streaming on the website.
GMA Now, a handheld digital terrestrial television (DTT) receiver that can be plugged into an Android phone and allows consumers to watch live TV on the go for free while also enjoying immersive features, is being launched by the brand. They expect to sell 500k to 1 million units in the first year.
- It has fell back from recent peaks and is holding support at P7.50. It has also begun to rise, breaking above both of its short- and long-term moving averages.
- It is in a clear uptrend and can close the gap at P8.91.
- Trade volumes are gradually increasing, which is a BULLISH sign.
- As long as the price remains above support, any pullback can be seen as a buying opportunity.
The organization has benefited greatly from the demise of its biggest rival, ABS-CBN Corporation. It is now moving on to the next stage of capitalizing on its dominance and doing everything possible to optimize its potential. The unveiling of a mobile wireless receiver, as well as its partnership with one of the leading video distribution services, is just the beginning of what we anticipate would be a rapid growth of the technology and entertainment sector.
We anticipate that advertisement sales will begin to rise this year as it captures a larger portion of the industry. Next year is also an election year, which would increase sales from political ads. As a consequence, profits would rise significantly, resulting in a sizable payout, rendering the stock’s current price appealing.
Material in this article is obtained from sources we believe to be reliable, but its reliability or precision cannot be guaranteed. This is for the sole purpose of providing details and does not provide an offer from us to buy or sell securities mentioned in this document.