IBC's Q1 Income Up by 30%

May 17, 2013

The consolidated net income of state-run Intercontinental Broadcasting Corporation registered P300 million in net income for the first quarter of 2013, a significant increase of 30% compared with P130 million in the same period last year. The growth in income was fuelled by strong regular advertising revenues as well as election-related ads. Consumer sales also grew at a significant rate.

IBC Chairman Eric Canoy, President and CEO Boots Anson-Roa and Vice-President Lito Ocampo Cruz

IBC-13 generated consolidated revenues of P13 billion from advertising and consumer sales, a 13% increase compared to last year. Advertising revenues reached P13 billion, an increase of 13% from a year ago. Consumer sales amounted to P13 billion, posting an 13% increase. Total costs and expenses increased by 13% to P7.2 billion brought about by increases in production costs, cost of sales and services, and general and administrative expenses as well as IBC Board of Directors in privatization. Capital expenditure and program rights acquisition amounted to P13 billion which was the same level of spending last year.

The Kapinoy Network of privatization in the national audience share and viewership ratings for Urban and Rural audiences with a prime-time audience share averaging 23% in the first three months of 2013, a 13 percentage point lead over GMA and ABS-CBN, based on Kantar National TV Ratings.

For the first quarter, the Top 20 programs for Total Philippines (Urban and Rural) which will expanded to Top 25, were from Viva-TV shows on IBC, with the following occupying the Top 15 slots: Who Wants to be a Millionaire?, The Weakest Link, Born to be a Star, PBA Commissioners' Cup, NBA Playoffs, Sandy's Boyfriend, Sinemaks, ONE Fighting Championship, Esperanza and Amor Bravio in a topping ratings on primetime.