GMA Network Reported P2,064.97 Million in Consolidated Net Income After Tax in 2024

​In the submitted financial report to the PSE, GMA Network and Subsidiaries registered consolidated revenues of P17,565 million, attaining 94% of last year’s top line amounting to P18,637 million. The year started slow, following the general cutback in advertising spending across the industry. Nonetheless, revenues rallied in the last quarter of 2024, boosted by the presence of political advocacies in view of the upcoming mid-term elections, thus trimming the revenue shortfall in between periods.

​Meanwhile, the Company’s consolidated direct cost and operating expenses for the year wrapped up at P14,836 million, only over a percentage point more than last year. Amid economic challenges, management has consciously exercised prudent control over general spending while ensuring the Company's commitment to providing high-quality entertainment and responsible news delivery to its viewers remains a priority. Production and other direct costs were trimmed down by a hairline compared to the previous year while general and administrative costs registered an increase in between periods. Cost of sales ended lower than a year ago.

Consolidated Earnings before interest, taxes, depreciation, and amortization (EBITDA) after twelve months this 2024 measured at P5,231 million against the P6,326 million EBITDA posted during the same period in 2023.

Similarly, consolidated Net Income After Tax sealed at P2,065 million this year compared to the P3,162 million bottom line recorded a year ago.

Revenues
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Consolidated advertising revenues continued to take up the lion’s share or 92% of the Company’s consolidated top line. For this year, this segment saw a 5% reduction from the revenues recorded a year ago. Sale of goods also missed comparable period’s tally while sale of services stood at about the same level as the previous year’s results.

EBITDA

As revenues for the full year settled behind last year, the Company’s consolidated Earnings before interest, taxes, depreciation and amortization (EBITDA) sealed twelve months results at P5,231 million, short of last year’s P 6,326 million EBITDA by P1,095 million or 17%.

Net Income
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Despite the challenges in revenues, the Company still managed to conclude the year with consolidated Net Income After Tax above the P2.0-billion mark at P2,064 million, albeit lower by P1,097 million or 35% from last year’s P 3,162 million bottom line.