As revenues grew from its advertisement industry LISTED media firm GMA Network, Inc. saw its attributable net revenues rise 128.57% to P5.98 billion last year.

Accordingly, GMA Network’s annual report submitted with the stock exchange on Wednesday compares this to P2,62 milliard net profits attributable to shareholders of the parent business registered in 2019.

The net sales of the firm rose by 17.23% to 19.33 billion PP in 2020 compared with 16.49 billion PP the previous year.

GMA Network posted P17.73 billion in advertisement sales, up 16.83 percent from P15.17 billion in the preceding year.

Last year, 92% of the organization’s overall sales were contributed by the commercial company.

In May of last year, the franchise of its major opponent, ABS-CBN Corp., ended. Lawmakers decided on 10 July to refuse its extension. In the first nine months of 2020, ABS-CBN created a decrease of 46.8 percent year on year in P17 billion from advertisement and consumption revenues.

GMA Network comprises three reporting divisions, including TV, radio, overseas subscription, and other companies like film development and consumer goods, which are divided into business units focused on its products and services.

The subscription revenues of the firm is reduced by P1.07 billion in 2019 to P911 million in 2020.

Distribution revenue and content provision decreased by P89.35 million by 28.76 percent to P63.65 million.

Meanwhile, output sales fell from P173.48 million by 71.21 percent to P49.95 million.

The GMA Network said that GMA-7 is the major contributor. “It was more than the same time 2018, its sales were P13,271 billion, 9% or P1.076 billion,” said the mentioned firm.

“The rise was driven by political promotions and advertising worth P711.9 million,” she said.

It also mentioned that last year, its radio company grew with revenues of P633.6 million.

According to the GMA network, the radio industry reported 7% growth in its top line of P41 million.

“Elections worth some P24,5 million have raised the top line of the radio,” he said.

Furthermore, regional television came to an end in 2020 with combined sales of P274.2 million, up 4% or P10.7 million in the previous year.

The GMA Network’s EBITDA was higher by EUR P568.4 million, which was P5.39 billion or 12 percent up from 2019 (i.e. before debt, tax, depreciation and amortization).

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