ABS-CBN Corporation Trims Net Loss by More Than Half in 2024

For the twelve months ended December 31, 2024, ABS-CBN Corporation reported total consolidated revenues of P17.3 billion, P1.2 billion lower, or 6% lower, than the previous year’s P18.5 billion. 

​The ABS-CBN Corporation's operational results for the year ending December 31, 2024 and 2023 are compiled in the table.

Content Production & Distribution: 

Total Revenue for the twelve months ended December 31, 2024 was P11.9 billion, an increase of 6% or P633 million compared to 2023.

Advertising revenue remained flat at P6.7 billion compared to 2023. Consumer revenue increased by 14% from P4.6 billion in 2023 to P5.2 billion in 2024, driven by the performances of the Film, Music & Events divisions.

Cable TV & broadband:

Revenue for the twelve months ended December 31, 2024 was P5.4 billion, P1.8 billion or 25% lower compared to 2023, mainly due to the decline in subscribers.

Consolidated Revenues:

For the twelve months ended December 31, 2024, total consolidated revenues were P17.3 billion, P1.2 billion lower or 6% lower than the previous year’s P18.5 billion.

Consolidated Operating Costs and Expenses

Consolidated operating costs and expenses amounted to P25 billion, a reduction of P6.2 billion or 20% year on-year; P5.1 billion of which was due to reduction in impairment losses. The balance of P1.1 billion was due to the continuous implementation of cost control measures resulting in a reduction in general & administrative expenses and employee costs. 

Consolidated Net Loss

Content Production & Distribution:

Net loss for the year ended December 31, 2024 was (P1.8) billion, a 69% improvement over the previous year’s net loss of (P5.8) billion.

Cable TV & broadband: 

Net loss for the twelve months ended December 31, 2024 was (P4.3) billion, lower by P2.8 billion or a 39% improvement compared to the 2023 net loss of (P7.1) billion. 

Consolidated Net Loss:

Consolidated Net loss for twelve months ended December 31, 2024 amounted to (P6.1) billion, an improvement of P6.7 billion or 53% versus the comparable period last year amounting to (P12.8) billion.

EBITDA

Content Production & Distribution: 

EBITDA for the twelve months ended December 31, 2024 was P2.1 billion, an improvement of P2.4 billion compared to 2023.

Cable TV & broadband:

EBITDA for the twelve months ended December 31, 2024 was P889 million, lower by (P707) million or (44%) compared to 2023.

Consolidated EBITDA: 

Consolidated EBITDA amounted to P3 billion, an improvement of P1.7 billion or 123% compared to 2023.