Last year, the media company's ad revenues rose by 16 percent to P6.7 billion, but this was still way below the P22.9 billion reached in 2019 when it still had its free TV franchise. Congress rejected its franchise renewal in 2020 and from July 2020 to 2021, ABS-CBN reportedly retrenched more than 15,000 employees.
The company's losses widened fivefold to P12.84 billion last year as production costs increased and advertising revenues dropped. The situation ABS-CBN is in, is not surprising. A lot of people no longer watch television for entertainment. Instead, they use other devices such as their laptops or mobile phones to catch the latest news, watch movies on streaming platforms like Netflix, Disney+ and get entertained by news postings on YouTube or TikTok.
Businesses advertise and spend their marketing budgets on digital versus traditional channels, not only because traditional advertising spaces are more expensive as when one would try to land a commercial during a highly watched TV program or event or secure a billboard in a big city but also because the results of traditional marketing are harder to measure compared to digital marketing. Not to mention digital placements can easily have a wider reach, even worldwide.
New media encompasses internet-based forms of advertising such as banner ads, social media and apps, which have gained popularity in the last decade or so as more and more consumers use smartphones.
But advertisers will not set aside traditional media since it complements with new media. Unfortunately, these advertisers will focus their traditional media budget on maybe just the number one or even top two for each form - print, television, radio.
Diese Geschichte stammt aus der October 19, 2024-Ausgabe von The Philippine Star.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der October 19, 2024-Ausgabe von The Philippine Star.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
4 ranking cops get new posts
Four senior police officials have been designated to new posts in another round of reshuffling in the Philippine National Police ordered by its chief Gen. Rommel Francisco Marbil.
Repatriated OFWs from Lebanon get free medical exam, hospitalization
The Department of Health (DOH) has committed to provide repatriated overseas Filipino workers (OFWs) from Lebanon free medical examination and hospital admission, if needed.
MMDA to bets: Avoid early campaigning
The Metropolitan Manila Development Authority (MMDA) believes that politicians will be \"decent\" and avoid potential early campaigning during Undas, or the observance of All Saints' Day and All Souls' Day in the country.
P3.4-M shabu seized in QC
Police confiscated shabu valued at P3.4 million in Quezon City last Friday afternoon.
Malabon gov't reopens Tugatog cemetery
After three years of rehabilitation, the Tugatog Public Cemetery in Malabon City was reopened to the public yesterday, allowing people to visit their deceased loved ones ahead of the observance of All Saints' Day and All Souls' Day next month.
Phl, France strengthen marine conservation cooperation efforts
The Philippines and France are taking steps to strengthen cooperation in ensuring marine conservation, with key government officials from both countries holding the first of a series of \"Blue Talks\" with local and foreign experts on biodiversity.
Sweeping reforms urged in PNP, PDEA
President Marcos should initiate sweeping reforms in the country's law enforcement sector in light of recent allegations of corruption and abuses of Philippine National Police (PNP) officers in the anti-drug campaign of former president Rodrigo Duterte which were revealed at the House of Representatives' quad comm hearings, Human Rights Watch (HRW) said yesterday.
DSWD: Programs insulated from politics
With the upcoming midterm polls in 2025, the Department of Social Welfare and Development (DSWD) assured the public that policies are in place to insulate the agency's programs and services from politics.
Richard Gomez files bill banning soda in gov't offices
Leyte Rep. Richard Gomez is proposing legislation that will ban soda and other sugary drinks in all government offices to help address the country's diabetes problem.
More Senate hopefuls visit Leni
Months before the official start of the campaign period, Naga City is starting to become an important stop for candidates in the 2025 elections. Two more Senate hopefuls visited former vice president Leni Robredo on Friday at the local office of Angat Buhay, the non-government organization she co-founded in 2022.