ABS-CBN Corp. on Monday said it is teaming up with Ayala Malls to develop an events venue in the Vertis North complex in Quezon City.
In a statement, the media and entertainment giant said it signed the agreement with Ayala Land, Inc. for the development of the ABS-CBN Vertis Tent.
Scheduled to open within the fourth quarter of 2017, ABS-CBN Vertis Tent will be used for the Lopez-led company’s special events, live shows, product launches, and concerts, as well as private events.
The tent venue will have a 1,140 square-meter main hall with a seating capacity of 1,200.
“Our events in selected Ayala Malls have always generated thousands of attendees. Last year, we also signed a lease agreement with TriNoma, an Ayala Mall, for our first ever ‘experience store.’ This tent is another first for ABS-CBN, thus strengthening our partnership even more,” ABS-CBN head of business development Paolo Pineda was quoted as saying in a statement.
The ABS-CBN Experience store is expected to create an “immersive experience” for fans of the network’s TV shows, “by allowing visitors to be part of the shows they follow and play the roles they’ve always wanted to play.”
ABS-CBN’s earnings stood at P314.398 billion in the first quarter of 2017, declining 59% from the P760.632 million gained during the same period last year which got a boost from election-related revenues.
