ABS-CBN revenue drops 17% as H1 loss widens to P1.83B

MANILA, Philippines — ABS-CBN reported a 17% decline in consolidated revenue to P6.88 billion in the first half of 2026, compared to the same period last year. Simultaneously, its net loss more than doubled to P1.83 billion. Operating expenses fell by 5%, or P482 million, to a total of P8.46 billion. The media company's content production and distribution segment generated P5.76 billion in revenue, a 9% decrease year-over-year.

Excluding political advertising and one-time factors from both periods, the segment's recurring net loss improved by 1%, while recurring EBITDA rose by 2% compared to the same period in 2025. The company cited election-related advertising and global factors affecting consumer sentiment and the domestic economy as reasons for the advertising revenue decline.

ABS-CBN also noted fewer movie releases and major events compared to the same period last year, which benefited from BINI's sold-out concert at the Philippine Arena and the performance of the film My Love Will Make You Disappear. Despite these challenges, higher consumer sales and growth in international syndication and co-productions partially offset the decline.

The company anticipates revenue improvements in the latter half of the year, citing the release of Tayo Sa Wakas by Star Cinema in May and the world tour of BINI, which began in June after their performance at Coachella Valley Music and Arts Festival in April. ABS-CBN announced its intention to raise P6 billion in new equity on August 17, with three branches of the Lopez family committing to P2.2 billion in share subscriptions, I&C Holdings Corp. contributing P3.5 billion, and Lopez Inc. subscribing to P300 million.

These investments are contingent on definitive agreements and regulatory approvals. ABS-CBN has been restructuring its business since losing its broadcast franchise in 2020, following the House Committee on Legislative Franchises' rejection of the company's bid for a new franchise on July 10 of that year.