CONSISTENT with its goal of finally turning a profit next year, broadcast firm TV5 is setting aside P6 billion for capital expenditures this year, roughly the same amount the network set aside in 2012.
Manuel V. Pangilinan, chairman of ABC Development Corp. that runs the network, told reporters the allocation should help TV5 do better this year in terms of financial performance as well as audience share.
“I think we should do better this year, better programming, better talents, better revenues,” Pangilinan said on Tuesday. TV5 reported six-month losses of P2.8 billion.
“Hopefully we should improve our modest share as a whole in Metro Manila and Luzon,” Pangilinan said, as he pointed out that in some parts of the Visayas and Mindanao the network led its rivals ABS-CBN and GMA Network.
“Coming off our performance in the last quarter of 2012, specifically in the Visayas and Mindanao, we are looking at a more competitive, more energetic, more innovative TV5 this coming year. We continue to build on our success with a wider and clearer broadcast coverage across the country and we want to duplicate these in our overseas operations as well,” Pangilinan said.
The TV5 executive is referring to TV5’s strong finish in the final quarter of 2012 when its audience share in cities such as Iloilo, Davao, Cagayan de Oro, Cebu, Bacolod and General Santos shared the top spot with Lopez-controlled ABS-CBN.
In Dagupan, Pangasinan, TV5 regained its top ranking reportedly at the expense of GMA 7 whose ranking has reportedly lagged since the second quarter last year, Pangilinan said.
Mediaquest Holdings Inc., parent firm of the Philippine Long Distance Telephone Co, is the owner of TV5.