Manila, Philippines (Updated March 20, 2017) – In a recent presentation of ABS-CBN Corporation, the company said it sold an estimated 2.2 million units of digital terrestrial television (DTT) product called ABS-CBN TVplus or as of December, surpassing its year-end target of 2 million digital boxes.
The country’s leading media company made the disclosure during the 14th Credit Lyonnais Securities Asia (CLSA) Ltd. ASEAN Forum held in Bangkok, Thailand from March 8-10, 2017.
During the company’s analysts’ and investors’ briefing held today, March 20, 2017 at Makati Shangri-La Hotel, ABS-CBN management said it sold more than 2.3 million units.
The company already reported hitting its target last November after it reported 2 million ABS-CBN TVplus units sold. Boost in sales occurred when the company began offering the product from Php 2,500 to Php 1,999 and to a new price point of P1,499 in the last quarter of 2016.
TVPlus or the DTT business is part of ABS-CBN’s growing consumer sales business, which generates annual revenues of around P17 billion or 45 percent of the company’s total.
As of September 2016, DTT’s contribution is 2 percent of the entire revenue mix. Advertising revenues remain to be ABS-CBN’s bread and butter at 59 percent of the company’s overall as of September 2016.
The digital television service carries free-to-air channels such as ABS-CBN and ABS-CBN Sports + Action and four premium and exclusive channels including CineMo!, YeY!, Knowledge Channel, and DZMM Teleradyo.
ABS-CBN also reported that Filipino movie channel CineMo! and kid’s channel YeY! gained increase in audience share based on Kantar Media TV Measurement.
Since its release in February 2015, ABS-CBN TVplus has expanded its digital signal coverage in Metro Cebu, Davao City, Bacolod, Iloilo, and Cagayan De Oro, on top of Benguet, Bulacan, Cavite, Laguna, Metro Manila, Nueva Ecija, Pampanga, Pangasinan, Rizal and Tarlac.
ABS-CBN Corp. posted a net income of P2.85 billion in the first nine months of 2016, up 50 percent during the comparable period last year.
ABS-CBN Corp. will be having its analysts’ and investors’ briefing on March 20, 2017, 3:30 pm, at Makati Shangri-La for the full year 2016 operating results of the company.
The company is listed in the Philippine Stock Exchange (PSE) with the stock symbol ABS.
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