GMA Network Allocates P20Bn+ for Three-year Capital Expenditures and Content Cost

GMA Network, Inc.’s (GMA7’s) disclosure on January 7, 2021 as posted on the PSE Edge:

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“GMA Network allocates over P20 billion for CAPEX, content cost for 2021-2023: Goes all-out on content production, digital TV expansion

Quezon City, Philippines – GMA Network, Inc., the Philippines’ largest TV network, is going all-out as it earmarks more than P20 billion for its capital expenditures (CAPEX) budget and content cost for 2021 to 2023.

GMA’s projected three-year CAPEX includes the construction of a new building and state-of-the-art studios inside the GMA Network complex in Quezon City. A huge portion of its budget is also allocated for content production and post-production.
The budget likewise covers the continuing expansion of its digital terrestrial television (DTT) reach and various projects in the regions to further strengthen GMA’s presence nationwide.

The Network is also set to officially unveil early this year its mobile digital TV receiver, GMA Now, which will enable viewers to watch TV on the go for free with bonus interactive features.

While the Kapuso Network was not spared in the global crisis in 2020 due to the COVID-19 pandemic, the seven-decade strong media giant was able to recover its airtime sales during the second half of the year coupled with the highly successful launch of its DTT receiver, GMA Affordabox, in June.

“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. 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,” said GMA Network Chairman and CEO Felipe L. Gozon.

Aside from its programs on main channel GMA-7 and on GMA News TV, the Kapuso Network also offers viewers a variety of content through its digital channels – Heart of Asia for avid Asianovela fans; Hallypop for Asian pop culture; and DepEd TV to help Filipino learners access DepEd’s blended learning program across the country.

The Network, as part of its 70th anniversary celebration last year, also produced the country’s first-ever virtual reality concert via the sold-out Alden’s Reality featuring Asia’s Multimedia Star Alden Richards.

Further diversifying its programming, GMA is the new home of the National Collegiate Athletic Association (NCAA) for Season 96 to 101 – including the centennial year of the Philippines’ first athletic league in 2024.

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.”