GMA allots P20 billion for 3-year capex

MANILA, Philippines — GMA Network Inc. has earmarked more than P20 billion for its capital expenditures and content cost in the next three years as it goes full blast on content production and digital TV expansion.

GMA said a huge portion of capex budget is allocated for content production and post-production.

The company will also construct a new building and state-of-the-art studios inside the GMA Network complex in Quezon City.

The three-year budget likewise covers the continuing expansion of its digital terrestrial television reach and various projects in the regions to further strengthen the network’s presence nationwide.

As part of its digital expansion, the company said it plans to officially unveil early this year a mobile digital TV receiver called GMA Now, which will enable viewers to watch TV on the go for free with bonus interactive features.

GMA said while it was not spared from the global crisis last year due to the COVID-19 pandemic, it was able to recover airtime sales during the second half of the year.

GMA also enjoyed strong demand for its DTT receiver called GMA Affordabox which was launched in June last year.

The company earlier said it was expecting to sell over 600,000 Affordabox units in 2020.

“Surpassing seven decades is no easy feat for our company especially during an exceptionally challenging year in 2020, but we are very proud of what we have achieved so far through our people’s dedication and our commitment to Serbisyong Totoo,” GMA Network chairman and CEO Felipe Gozon said.

“We wholeheartedly thank all our Kapuso for their unrelenting support to GMA. Rest assured that your Kapuso Network will continue to provide only the best for our viewers,” Gozon said.

Aside from its programs on main channel GMA-7 and on GMA News TV, the network also offers viewers a variety of content through its digital channels such as Heart of Asia, Hallypop, and DepEd TV.

“As it continuously strengthens its content across all platforms, GMA Network remains steadfast in ensuring the timely delivery of relevant news and information during these trying times, as well as bringing world-class entertainment to Filipinos here and abroad,” it said.