MANILA, Philippines - GMA Network Inc.’s technology arm GMA New Media Inc. (NMI) earned over 300 percent more in January to November this year amid higher revenues.
In a statement yesterday, GMA said NMI’s consolidated earnings jumped 327 percent to P37.4 million in the 11-month period from the same period last year.
This, as revenues grew 50 percent year-on-year to P249.6 million as the firm implemented initiatives to support growth.
These initiatives include optimization of revenue sources including content partnerships that were established last year, as well as cultivating emerging ones to drive further increase in sales.
Online advertising revenues grew 73 percent year-on-year to P124 million as of end-November, with earnings from programmatic advertising and key online partners contributing 80 percent of total sales, equivalent to P99.3 million.
NMI’s revenues from YouTube also rose 94 percent to $700,000, driven by the steady increase in views and traffic on GMA’s YouTube channel.
Revenues from over-the-top platforms from partners Hooq and iflix likewise increased 218 percent in the 11-month period compared to the same period last year.
“Partnering with various industry entities such as online industry leaders Facebook and YouTube has proven to be an effective strategy for GMA NMI this year. These partnerships, in addition to opening new revenue streams, are beneficial in terms of strengthening GMA’s online presence particularly among the millennial market,” GMA NMI president and chief operating officer Judd Gallares said.
NMI subsidiary MediaMerge also posted strong financial results as its net income went up 101 percent year-on-year in the January to November period.
Digify, another NMI subsidiary, likewise continued to grow its pool of clients given continued demand for internet-based applications.
NMI is responsible for the upcoming launch of GMA’s Digital Terrestrial Television (DTT) product.
Recently, NMI unveiled a prototype of the DTT product which will allow digital broadcast services on analog TV as well as transform the unit into a smart TV to be able to play on-demand content and run different applications.
GMA earlier announced it is investing an initial amount of P416 million for the DTT project, which would be rolled out first in Mega Manila.