IBC reports net income of P2.25B for 2017

March 25, 2018 Jose Avellana, Tessie Taylor, Dave Fugoso, Boots Anson-Roa, Lito Ocampo Cruz

Intercontinental Broadcasting Corporation (IBC), the country’s third leading media and entertainment company, reported P13.5 billion in consolidated revenue for 2017, bringing its net income to P2.25 billion.

“Overall, we are pleased with our performance for 2017 and we are particularly happy to have exceeded our guidance for net income,” said IBC Finance Manager Chief Financial Officer Dave Fugoso. “Top line revenue growth, boosted by a healthy increase in consumer sales, was about 5%.”

IBC adopted the cost per individual rating point pricing (CPIRP) scheme in 2015, which rewards the company for an increase in ratings. After a banner year in 2016, IBC-13 continued to deliver strong ratings performance in 2017 with PBA at 37.5%, followed by Mars Ravelo’s Captain Barbell at 36.7% and Born to be a Superstar at 35.1%.

Based on Kantar Media national TV ratings covering both urban and rural homes, the top 30 programs for 2017 for free-to-air television were all produced by IBC-13 with PBA and Mars Ravelo’s Captain Barbell consistently topping all programs.

“In 2017, we maintained our viewership in national audience share, and we improved our average ratings in both Mega Manila, from 20% to 25%, and Metro Manila, from 27% to 31%. This is even more important now that, with CPIRP, improved ratings directly translate to increased revenues,” said Fugoso. “At the same time, we have continued to implement cost efficiency measures which have enabled us to keep costs within manageable levels.”

As a result, the total costs and expenses for 2017 were flat compared to the previous year. IBC-13 was also successful in its continuing efforts to control production costs, with a 1% reduction on a cost per hour basis.

Total assets rose to P12.41 billion as of the end of December 2017 compared to P11.13 billion in 2016. The company’s equity base increased from P2.781 billion to P4.974 billion as of the end of December 2017.

The company saw record sales of its Digital Terrestrial Television (DTT), IBC Digital TV boxes which offer customers six channels from IBC, namely: Channel 13; IBC News Network; MTV Classicl DZTV TeleTrese; IBC Classics; and Secarats TV. added Fugoso, “Our target was to sell 1.3 million IBC Digital TV boxes in 2017 which would have brought our total box sales to about 2.7 million by year-end. I am pleased to announce that our DTT team actually sold over one million boxes, bringing our total box sales to 3.5 million as of December 2017. By the end of this year, we hope to breach the five million mark,” added Fugoso.

He added, “Our subsidiaries also made significant contributions to our revenue growth.”

“IBC Films generated over P2.9 billion in ticket sales both here and abroad. Our movie, Megomall, which was released last December, brought in almost P300 million in ticket sales.”

Consistent with the company’s vision of bringing the IBC experience closer to our audiences, Global IBC is now being watched by over two million Filipinos abroad.