Still, the company said consolidated revenues fell 11 percent to P6.726 billion in the first half of the year from P7.564 billion a year earlier in the absence of political advertising that marked the network’s robust financial results in the first half of 2010.
Quarter-on-quarter, GMA Network’s net income after taxes slipped by 13 percent to P521 million.
GMA Network chairman and CEO Atty. Felipe Gozon, however, noted that revenues in 2011 were off to a much better start than it did in the beginning of 2008, a year unaffected by the presence of political advertisements.
"In 2010, we increased our effective rates very substantially, but it did not affect the load so much because the timing of the increase happened in 2010, when there was an election," Gozon explained.
"Advertisers got used to our relatively higher prices already in 2010, so it did not affect the load so much in 2011," he added.
Gozon said revenues last July increased by 36 percent year-on-year. He noted that July 2010 was no longer affected by political advertisements.
Higher revenues in July were influenced by a combination of higher rates and ad placements, but it was more of the latter, Gozon said.
The company will keep its 2011 targets, but GMA president and COO Gilberto Duavit Jr. said they are not dismissing the possibility of exceeding their targets.
"The revenues in July and the placements we've already received as early as today indicate that improvement in the third quarter will be quite substantial," Duavit said." Read Full Story...
Comments
Post a Comment