Listed GMA Network Inc. is ready to face challenges in the broadcast industry in 2013, posting better than expected growth amid the challenges in 2012.GMA chairman and CEO Felipe Gozon said during the annual stockholder's meeting on Wednesday the company is "more than prepared to meet the challenges in broadcast."
"2012 was a challenging year for us but your company was able to achieve success... in 2013; continuous expanding and adding revenue sources is astutely pursued," Gozon said.
He noted that with a growing fragmented users, GMA is undertaking measures to ride with the changes.
"For broadcast companies to survive, they may have to evolve... on three dimensions—broadening of customer base, expanding relationships with customers and prolonging content life cycle... For GMA, we are already undertaking those," Gozon said.
In 2012, GMA Network posted gross revenues of P13.93 billion while net income was P1.617 billion, Gozon added.