By Adam J. Ang
GMA Network, Inc. is looking to expand the number of channels available on its digital terrestrial television (DTT) receiver within the year.
During its annual stockholders’ meeting on Friday, GMA Chairman and Chief Executive Officer Felipe L. Gozon said its digital television device called ”Affordabox” is “selling like hot pandesal” since its launch last month.
“In fact, we are overshooting our targets. Just this morning I heard a request to increase the purchase for the number of boxes,” he said.
Asked about expanding the number of available channels, Mr. Gozon said “one or two more” will be added within the year.
The plug-and-play device costs P888, cheaper than the TVPlus sold by rival ABS-CBN for P1,499.
A video recording function and an emergency warning system are among features that set apart the GMA Affordabox from other DTT receivers launched in the country.
Mr. Gozon said the company is looking to increase the production of the device with the surge in demand.
The device is part of the company’s compliance with the government-mandated digital television shift over the next three years.
After replaying some shows during the lockdown, Mr. Gozon said: “In the coming days, you will see more and more of our programs returning to the air.”
Live shows will also return, albeit on a limited basis and given the quarantine restrictions.
DEBT-FREE
Mr. Gozon said GMA Network is free of debt as of end-March, emphasizing its ”ability to balance ratings growth with sound financials.”
In the first three months of 2020, GMA saw its net income plunged by 19% to P583.42 million with the lack of political ads and the pandemic-induced quarantine imposed in the middle of March. Total revenues were down 7% in the first quarter to P3.53 billion.
Meanwhile, online advertising sales expanded by 39%, especially from its online news and entertainment sites and Youtube channels.
“In the next months and years, we will see a transformation of the broadcast industry,” Mr. Gozon said, adding it will be “challenging” yet “filled with opportunities to enrich the lives of Filipinos.”
On Friday, shares in GMA inched up 0.55% to close at P5.53 each.
