• ABS claims lead in prime time over rival network

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    ABS-CBN Broadcasting Corp. claimed that is still led in national audience share and ratings for Urban and Rural audiences, with prime time audience share averag-ing 46 percent in the first six months of 2013, a 16-percentage point lead over its rival GMA Network Inc., based on Kantar National TV Ratings.

    Also on Tuesday, ABS-CBN reported a consolidated net income of P1.34 billion for the first six months of 2013, an increase of 44 percent compared with the P927 million it posted in the same period last year.

    The Lopez-led company said that the growth in income was fuelled by strong regular advertising revenues as well as political advertisement.

    ABS-CBN generated consolidated revenues of P17.06 billion from advertising and consumer sales, a 23-percent increase compared to last year.

    The company said that its advertising revenues reached P10 billion, an increase of 29 percent from a year ago. Consumer sales amounted to P7 billion, posting a 16-percent increase. SkyCable continues to be a major driver growth with revenues increasing by 30 percent to P3.3 billion.

    The growth in SkyCable revenues is partly attributable to the acquisition of Destiny Cable.

    Total costs and expenses in-creased by 20 percent to P15.28 billion brought about by increases in production costs, cost of sales and services, and general and adminis-trative expenses.

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