ABS-CBN lifts Lopez Holdings income higher

MANILA, Philippines - Lopez Holdings Corp. reported a 7.7 percent rise in its first half income to P1.95 billion, boosted by the positive performance of subsidiary ABS-CBN Corp.

In a disclosure to the Philippine Stock Exchange, Lopez Holdings said revenues inched up to P49.25 billion from P48.6 billion.

“The favourable results were primarily due to the stellar performance of ABS-CBN, following its continued dominance in nationwide TV ratings in the first half of 2015, as well as the commercial launch of its digital terrestrial television initiative, ABS-CBN TV Plus, in February 2015,” Lopez Holdings said.

ABS-CBN has claimed dominance in nationwide ratings while its closest rival, GMA, claimed leadership in the Luzon and Mega Manila.

Citing data from Kantar Media, ABS-CBN said average national audience share was 47 percent, significantly higher than GMA’s 31 percent due to viewers’ strong support for its primetime offerings.

ABS-CBN held its dominance in the primetime block, which is from 6 p.m. to 12 midnight, gaining an average audience share of 53 percent during the period or double GMA’s 26 percent.

Advertisers put a large chunk of their budget in the primetime block to reach more consumers because most Filipinos watch TV during this time.

Meanwhile, Lopez Holdings said the effect of Globe Telecom’s purchase of Bayan Telecommunications, would be reflected in the holding firm’s third quarter financial report.

Last month, Globe Telecom agreed to purchase Bayan Telecommunications Inc. for P1.83 billion.

As of end-June,  Lopez Holdings owned 56 percent of ABS-CBN and 46 percent of First Philippine Holdings Corp.