The Lopez Group’s multimedia arm ABS-CBN Corp. reported that its consolidated net loss ballooned 115 percent to ₱1.83 billion in the first half of 2026 from losses of ₱852 million in the same period last year due to SkyCable’s weakening broadband and cable TV businesses.

In a disclosure to the Philippine Stock Exchange (PSE) on Monday, Aug. 17, ABS-CBN said its consolidated revenue totaled ₱6.88 billion, 17 percent below the same period last year, with cable TV and broadband accounting for most of the drop.

Consolidated operating expenses (opex) improved by five percent, or ₱482 million, to ₱8.46 billion.

The content production and distribution business generated ₱5.76 billion in revenue for the first half of 2026, nine percent lower than in the same period last year.

Setting aside political advertising and one-off items in both years, the segment’s recurring net loss showed a one-percent improvement, and its recurring earnings before interest, taxes, depreciation, and amortization (EBITDA) was two percent higher than in the same period last year.

Advertising revenue was lower due to the presence of election-related advertising in 2025. In addition, global developments this year have had a negative impact on consumer sentiment and the domestic economy.

There were also fewer movies and major events in the first half of 2026 compared with the same period last year, when revenues were boosted by BINI’s sold-out concert at Philippine Arena and the strong performance of a hit movie.

Part of the decline was covered by higher consumer sales and growth in international syndication and co-productions.

Star Cinema released a new movie in May, and BINI’s world tour kicked off in June following the group’s strong showing at Coachella Valley Music and Arts Festival in April.

The tour runs through the second half, and the rest of the film and live events slate is still to come. Revenues are expected to improve over the balance of the year. - James A. Loyola