How tie-up with erstwhile foe ABS-CBN helped GMA endure losses

INQUIRER FILE PHOTO

Media giants GMA Network Inc. and ABS-CBN Corp., once fierce rivals over TV ratings, are in talks for more potential joint projects after recently signing a historic coproduction deal for a romantic-drama series.

“There is ongoing conversation on different opportunities,” Joseph Francia, first vice president and head of operations at GMA International, told the Inquirer on the sidelines of a recent event in Makati City.

He said teaming up for projects were making both companies “stronger” as they endure the adverse economic impact of the pandemic that had slowed down revenues from ad placements. On top of this, ABS-CBN has been operating sans free TV franchise since 2020 after the previous administration rejected its appeal for renewal.

“We have to be creative in our approaches. By creative, we mean, where we can get the best return for our investment because it is expensive to grow using content,” he explained.

The GMA official also noted the need to expand distribution of content in order to reach out to more audience.

“When we put it together, we have better impact in terms of business result and in terms of the engagement in our audience,” Francia said.

Asked if there was another coproduction deal in the offing, he responded: “We cannot close the door on that. I think the conversation has been opened.”

New deals inked

In January, ABS-CBN and GMA inked a coproduction agreement for a TV series titled “Unbreak My Heart.”

The romantic-drama series will air on GMA and stream in 15 international territories via over-the-top video streaming service Viu this year. It will star actors Joshua Garcia, Gabbi Garcia, Richard Yap and Jodi Sta. Maria.

Last month, the media entities had another partnership allowing GMA’s international channels GMA Pinoy TV, GMA Life TV and GMA News TV, along with some of its on-demand programs, to be aired on ABS-CBN’s iWantTFC.

Such content will be available for iWantTFC viewers in select countries and territories in Asia-Pacific, Middle East and North America, Europe and South Pacific/Caribbean Islands.

In the first quarter, GMA saw its net income fall by 72 percent to P603.57 million from P2.12 billion a year ago due to the absence of election-related advertisements.

ABS-CBN, meanwhile, trimmed its losses for the period to P1.21 billion from P1.4 billion in the previous year despite lower revenues, thanks to a decrease in production costs and other expenses. —Tyrone Jasper C. Piad

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