IBC-13 REPORTS 45% JUMP IN FIRST HALF NET INCOME TO PHP 1 BILLION

August 10, 2016 at 4:29 pm

Intercontinental Broadcasting Corporation (IBC), the country’s government-sequestered media and entertainment company, reported PHP 20.9 billion consolidated revenue for the first half of 2016, bringing its net income to PHP 1 billion, 45% higher compared to the same period last year. The company reported higher second quarter revenues of PHP 5.5 billion, 13% higher than the revenues generated during the first quarter of this year.

“The improvement in our ratings, coupled with the newly implemented cost per individual rating point pricing scheme, contributed to the increase in our advertising revenues,” said Dave Fugoso, IBC’s finance manager nd chief financial officer.

IBC-13 continues to be the market leader in terms of total day national audience share and ratings for the first half of 2016. The top 15 programs for the first half of 2016 were all IBC-13 shows with PBA during Saturday and Sunday at the top spot.

The company’s Digital Terrestrial Television or DTT has already touched millions of household viewers, with over 1.3 million boxes sold as of the end of June.

IBC-13 is home to the nation’s top-rating TV programs, box-office films, and best-selling books and music. With the ability to harness the latest in technology and innovation, the company is rapidly transitioning into an agile digital company with the biggest online presence among all media companies, and a growing list of digital properties. IBC was also first in the country to offer content online and on mobile, and even pioneered digital television in the nation.

“We recognize that the industry we are operating in is changing rapidly and we continue to make significant investments towards digital transformation and innovation,” added Fugoso.

With these successes, IBC-13’s total assets rose to PHP 30.5 billion or 1% increase from last year’s PHP 40.5 billion. Equity base rose to PHP 15.2 billion from PHP 25.8 billion in 2015.