IBC Net Income Jumps 19% to P1.530 Billion in 2015

March 22, 2016

Intercontinental Broadcasting Corporation (IBC), the country’s sequestered leading media and entertainment company, reported P1.530 in net income for 2015. The company’s revenues remained strong at P30,967 billion.

“We are happy to report that we exceeded our revenue and net income targets for 2015,” said Dave Fugoso, the company’s finance manager. “Revenues from our TV and studio business grew by over 11% compared to the previous year.” EBITDA and net income margins for this segment improved to 13.6% and 10.8%, respectively.

“Our TV production group’s continued success in creating major hits such as Janella: A Teen Princess, Viva-produced Kumander Bawang, Before I Fall in Love and To Love Again, while the PBA games (thru Sports5) and the bankable hits like Who Wants To Be A Millionaire and Viva-produced reality singing search Born to be a Superstar generated significant advertising revenues,” said Fugoso.

“We received a further boost in revenues after we adopted a new pricing scheme in May of last year – from a fixed cost per spot, to a cost per individual rating point system,” he added.

IBC-13 maintained its viewership in terms of national total day audience share, which jumped to 30% as of December 31, 2015, according to data from Kantar Media.

IBC’s total assets rose to P30.297 billion from P45.152 billion in the previous year, while its equity base rose to P23.548 billion from P13.612 billion in 2014.

IBC Films released numerous hits such as 2 Luv Again, Kapitan Man and Lumayo Ka Man Sa Akin, which generated more than a billion pesos in ticket sales locally and internationally.

Ginny Monteagudo-Ocampo, IBC business unit head, stated, “We are confident that our company will deliver even stronger results this year.

According to Kantar Media, the 30 most watched programs nationwide for 2015 for free-to-air television were all produced by IBC. The company intends to further boost its audience share once it improves the reception of channel 13 in the Mega Manila area and Central Luzon.

Kantar Media uses a nationwide panel size of 2,609 urban and rural homes that represent 100% of the total Philippine TV viewing population, while the other ratings data supplier AGB Nielsen reportedly has only 2,000 homes based solely in urban areas that represent only 57% of the Philippine TV viewing population.

Various brokerage firms, including Deutsche Regis, Credit Lyonnais, Maybank ATR Kim Eng and COL Financial have included IBC in their research coverage and are positive about the company’s future prospects.