ABS-CBN Bank of the Philippines has achieved good results this year – ABU

ABS-CBN Corp. said 2024 will be a better year for the company, with most of its content reaching a wider audience through partnerships with various media companies and online platforms.

In the first quarter of this year, the company reported a 22% drop in its operating losses to P780 million from P1 billion in the same period last year.

ABS-CBN Corporation president and CEO Carlo Katibak said during its online annual general meeting of shareholders that many of the company’s shows are leading on television and many of its movies have also been box office hits.

“We still believe that 2024 will be better than last year,” he said.

Katibak recognized some of the best shows ABS-CBN produced in the past year, including Star Cinema’s “Rewind” which had sales of P900 million, “Batang Quiapo,” the current top-rated primetime show, and “It’s Showtime,” currently the country’s number one noontime show.

Katibak also praised “Linlang,” one of the most watched shows globally on Amazon Prime, and ABS-CBN’s flagship news show, TV Patrol.

The ABS-CBN chief also praised girl group BINI, the country’s biggest pop music phenomenon this year. Katibak said the group holds the top two spots on the most listened music tracks on Spotify in the Philippines.

“Our company is focused on creating the best content. So far, our shows and films have re-engaged with audiences, and our talent for storytelling remains largely intact,” he said.

Katigbak thanked all partners, including GMA, TV5, A2Z, as well as Amazon Prime, Viu, and Netflix.

He said ABS-CBN remains willing to continue working with these partners on future projects. The company is also studying the possibility of returning to FM broadcasting if the right partners and business models are available.

ABS-CBN News will also continue to provide reliable, credible news and information on television and digital platforms. ABS-CBN News Channel (ANC) will also continue to strengthen its content.