MANILA - ABS-CBN Corp on Tuesday said its regular advertising sales for the first 9 months of 2023 hit P4.829 billion, higher by 18 percent compared to the same period in 2022.

After adding back election-related advertising sales in 2022, the advertising revenues total for the first 3 quarters was flat compared to the same period last year, it said.

Consumer sales declined by 8 percent to P8.691 billion, compared to 2022 due to the decline in cable TV and satellite consumers for both Sky and TFC, the company said in a disclosure to the stock exchange.

Total consolidated revenues for the first 9 months of the year reached P13.52 billion compared to the previous period's P13.556 billion excluding non-recurring advertising revenues, the company said.

Recurring net loss, meanwhile, is at P3.396 billion which is lower compared to the P4.463 billion in the same period in 2022. This is an improvement of 24 percent driven by higher ad sales and lower costs, ABS-CBN Corp said. It said total costs and expenses hit P16.1 billion, lower by 8 percent compared to 2022.

ABS-CBN Corp said it remains committed to serving Filipinos worldwide despite the non-renewal of its franchise. The company earlier launched the Kapamilya Channel on cable TV and its digital streaming channel "Kapamilya Online Live."

ABS-CBN also has existing content sharing agreements, partnerships, and content sales and licensing deals which allow Filipinos here and abroad to watch their favorite Kapamilya shows.

news.abs-cbn.com is the official news website of ABS-CBN.