ABS-CBN TVplus Sales Surpass 2016 Target at Two Million

MANILA, Philippines – ABS-CBN Corp. (PSE:ABS), one of the biggest media and entertainment organizations in the Philippines, discloses that it sold two million TVplus boxes as of November-end.

The TVplus boxes sales exceeded the target for 2016 merely more than 12 months since it has been launched in early 2015.

Chinky C. Alcedo, ABS-CBN DTT and Mobile Head, stated that the strong sales of TVplus boxes were attributed by value added services and improved content offering during the period. ABS also claimed that it pursues adoption of innovation and new technology as it streamlines further digital shift.

In September, the company already reached 1.6-million units selloff. During the period, the product is sold below P1,499 value to allow more people access the unit. After three months, ABS was able to trade as much as two million units. The initial launching of the item marked its P2,499 price.

Carlo L. Katigbak, ABS-CBN President and Chief Executive Officer, stated that TVplus is pushing forward improvements on the viewing experience of the Filipinos through digitally transformative amusement and better quality broadcasting. Through the TVplus boxes, the viewers could watch special TV events and get access to more channels.  Katigbak added that the product bears on their objective to serve the countrymen.

It was noted that ABS-CBN is the first company to adopt the digital terrestrial television (DTT), a shift from an analog signal-supported transmission. Relative to its aim of becoming a digital firm, TVplus offers free exclusive channels while also delivering pay-per-view service for domestic and overseas films.

The DTT reach of ABS encompasses Metro Cebu, Cagayan de Oro, Davao City, Iloilo, and Bacolod. The areas are simply additions to the initial rollout in Cavite, Benguet, Bulacan, Laguna, Metro Manila, Pangasinan, Nueva Ecija, Tarlac, Pampanga, and Rizal.

The first nine months of 2016 marked the growth in consolidated revenue of the company at P31.1 billion. Its net income ended at P2.85 billion, which is a 50 percent jump from last year’s record. The ad sales in the past nine months also rose by 20 percent, ending at P18.32 billion. Consumer sales of ABS increased to P12.85 billion, an upward trajectory by 3.1 percent.

ABS-CBN Corporation is a media firm committed to providing television and radio services, which are inclusive of radio programming for local and foreign audiences and television production. The company produces a diverse set of programs, which are viewable for free on television. It has 19 radio stations throughout the country’s key cities.

About the Author
The Stock Signals Philippines is the online news media arm of Equilyst Analytics. Inc., an SEC-registered stock market consultancy firm in the Philippines that guides Filipinos on long-term investing and short-term trading and offers mentoring services.

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