ABS-CBN eyes shift to 'agile digital company,' says CEO

ABS-CBN News

Posted at May 05 2016 12:29 PM

ABS-CBN Executives at the ABS-CBN Annual Stakeholders Meeting on May 5, 2016. Ryan Ramos

ABS-CBN Corp. is focused on transitioning into an “agile digital company” as it sees growth in its digital television and mobile businesses, its president and chief executive officer Carlo Katigbak said Thursday.

The company is on track to roll out its TV Plus digital television service to half of Mega Manila this year, after growing its subscriber base to 940,000 last year, Katigbak told stockholders.

Average revenue per subscriber of its cellular service, ABS-CBN Mobile, "more than doubled," even as the number of its subscribers were down slightly to 600,000, Katigbak said.

The target for the P3-billion venture with Globe Telecom to break even was "extended by another 12 months," he said.

"We are committed to transitioning ABS-CBN into an agile digital company," he said.

ABS-CBN’s digital media group also maintained lead with abs-cbn.com delivering close to 2.5 billion page views, Katigbak said.

ABS-CBN reported a net income of P2.5 billion, up 25 percent increase from the previous year.

Shares of ABS-CBN were down 0.27 percent to P55.65 in late morning trading on Thursday.

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