GMA Network Inc. said net income grew by 9 percent in the first half of the year, boosted by political advocacies and advertisements.
The Gozon-led broadcasting network said net income amounted to P4.01 billion in the January to June period, up from P3.66 billion in the same period last year.
The company’s consolidated revenues reached P11.94 billion, higher by 13 percent from P10.57 billion last year.
“The influx of political advocacies and advertisements for this year’s national and local elections during most part of the first semester propelled GMA’s top line to reach yet another milestone,” the network said.
The network said core channel GMA-7 lorded over all other revenue platforms grabbing the lion’s share of its total revenue pie.
For the past six months, GMA-7 posted 10 percent hike in its top line from first half last year.
“Incremental sales from election-related load was instrumental in attaining this feat as the Network was the most widely viewed free-to-air broadcast media with the most extensive reach nationwide,” GMA said.
The rebranded channel Good TV or GTV grabbed second spot in terms of revenues, sealing the first half of this year with sales more than doubling prior period’s performance.
GMA’s Regional TV (RTV) operations, which for the first half of 2022 accumulated sales which translated into a considerable jump of 93 percent compared to a year ago.
On sale of merchandise, mainly the set-top box and dongle, the past six months this year raked in P181 million adding to its total top line. However, compared to the same period last year, a drop of P76 million was recorded.
Total quantity sold for GMA Affordabox since launch in mid-2020 reached close to two million units.