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GMA Network Inc. told the Philippine Stock Exchange
on Monday that it sees tempered growth during the first quarter due
to the absence of political advertisements it clinched last year and
the early onset of Holy Week last month.
In a disclosure, the broadcasting
network said it increased its rate cards by up to 20 percent during
the first three months this year, while its TV advertisement minutes
rose by 8.8 percent, excluding that of its noontime show Eat Bulaga.
In comparison, industry ad minutes grew by 11.6 percent.
At end-February, GMA said its
income surged by 101 percent year on year. “Expectations, however,
are tempered for the first quarter as Holy week was in March 2008
compared [with] April in 2007. Also, political ads were present in
first quarter 2007,” the company said.
The company aims to increase its
net income by 20 percent, driven by its new rates due to higher
production capacity, competitive new programs and substitute base
networks for offshore operations such as GMA Pinoy TV and the GMA
Live TV.
The network earlier said it will
spend P900 million for its capital expenditure this year on
additional studios, transmitter upgrades across the country and the
development of its media asset management system.
Last year, the company’s
profits rose by 18 percent to P2.307 billion.
--Likha C. Cuevas-Miel
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