ABS-CBN Corp. saw its net loss more than double in the first semester, as the absence of election-related advertising, weaker consumer sentiment, and a thinner slate of films and live events dragged down revenues.
The listed media conglomerate reported a consolidated net loss of P1.83 billion for the January-to-June period, wider than the P852-million loss it booked in the same period last year.
Consolidated revenues fell 17 percent to P6.88 billion, with the company attributing most of the drop to its cable TV and broadband businesses. Its core content production and distribution segment generated P5.76 billion in revenues, 9 percent lower year-on-year, as the comparable 2025 period benefited from political advertising tied to the midterm elections. The company said global developments this year have also weighed on consumer sentiment and the domestic economy.
Excluding political advertising and one-off items in both years, the segment’s recurring net loss narrowed by 1 percent, while recurring earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 2 percent.
The first half of 2025 was likewise boosted by BINI’s sold-out concert at the Philippine Arena and the box-office performance of ‘My Love Will Make You Disappear,’ events that had no equivalent this year. ABS-CBN said the decline was partly offset by higher consumer sales and growth in international syndication and co-productions.
Consolidated operating expenses improved by 5 percent, or P482 million, to P8.46 billion.
The company expects revenues to recover in the second half.
Last week, ABS-CBN announced that it is raising P6 billion in new equity from members of the Lopez family and a private investment firm, fresh capital meant to shore up a balance sheet battered by six years of losses since the network went off free television.
Crème Investment Corp., Mantes Corp., and Presta Holdings Company Inc.-representing three branches of the Lopez family-committed to subscribe to a combined P2.2 billion worth of ABS-CBN shares using personal resources. IandC Holdings Corp., a 100-percent Philippine-owned private investment holding company, will take the largest tranche at P3.5 billion, while Lopez Inc. will subscribe to an additional P300 million.
Proceeds will strengthen the company’s balance sheet and fund its transformation into a content-led media and entertainment business. The investments are subject to definitive agreements and regulatory requirements.
The infusion is ABS-CBN’s biggest capital event since Congress rejected its franchise renewal in 2020.