MANILA, Philippines – The Philippines’ broadcast industry leader GMA Network (GMA) disclosed a steep 98% fall in net income in the third quarter of 2026, while its erstwhile competitor ABS-CBN reported it was still deep in the red.
In its earnings disclosure on Friday, November 13, publicly listed GMA saw its net income spiral down from P2 billion in Q3 2025 to only P32.85 million in Q3 2026. Revenues fell 31%, or by P4.3 billion, in the same period. EBITDA was also “significantly lower,” dropping 68% from P4.5 billion to P1.4 billion.
“The downturn was attributable to the absence of political advocacies and advertisements in relation to the 2025 mid-term election as well as softening of recurring revenues year-on-year,” the company said.
Advertising revenue was the main culprit, declining 33% or from P12.8 billion in Q3 2025 to P8.6 billion in Q3 2026, but GMA also cited the “continued shift of audiences and advertising budgets from traditional media to digital platforms” for the disappointing performance.
Aside from industry disruption, it also noted the “challenging business environment marked by elevated fuel prices, persistent inflation, supply chain disruptions, rising labor and utility costs, and ongoing geopolitical uncertainties stemming from the Middle East conflict.”
“These conditions drove up production and distribution costs, squeezed profit margins, and prompted businesses to exercise greater caution in…
