By Patrizia Paola C. Marcelo

ABS-CBN Corp. is reviewing the performance of its mobile business, which continues to suffer from losses.

“We’re in the assessment phase. The whole business model is being reviewed… By January or February, we’ll have more or less an idea for the strategy of its mobile business,” ABS-CBN Chief Finance Officer Aldrin M. Cerrado told reporters last week.

ABS-CBN mobile, a mobile virtual network operator, was launched in 2013 following the Lopez-led company’s deal with Globe Telecoms, Inc., which provides the wireless network infrastructure while ABS-CBN pays a fee for its use.

As of Sept. 30, ABS-CBN mobile subscribers stood at 946,000.

Mr. Cerrado said the mobile unit’s losses this year will be around P100 million, but emphasized this is “way lower” than the initial losses amounting to P1 billion.

“We’re thinking a lot of ways in order for that business to break even,” he said.

ABS-CBN’s contract with Globe is up for renewal by next year, and discussions are being conducted.

Last year, ABS-CBN scaled down its mobile business following the huge losses and subscriber declines.

“ABS-CBN has to have a mobile strategy. We should be able to monetize our content… and maximize revenue potential in as many platforms as possible,” Mr. Cerrado said.

ABS-CBN Corp. reported a 20% decline in profit for the nine months ended September, as advertising revenues fell year on year versus last year’s election-related spending. Net income attributable to parent was P2.27 billion from January to September from P2.85 billion during the same period last year.

ABS-CBN’s digital and interactive media business, which includes online and mobile, remained weak during the first nine months of the year. As of end-September, the segment registered a net loss of P306 million, slightly lower than the P361-million net loss during the same period a year ago.

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