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GMA Network profit down 43% as ad revenue tumbles
The Philippine Star
|November 17, 2024
Broadcast giant GMA Network Inc. has endured another quarter of profit decline on the back of fewer advertising placements due to the evolving landscape of media consumption.
GMA reported a 43-percent drop in net income to P1.41 billion in the nine months to September from last year's P2.47 billion.
By segment, GMA took a 10 percent hit in its revenue to P12.46 billion, acknowledging that ad placements on free TV are becoming fewer these days.
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