Total revenue slipped 6 percent to P17.56 billion, but the company finished strong in the final quarter.
“The year started slow, following the general cutback in advertising spending across the industry,” GMA said in its annual report.
"Nonetheless, revenues rallied in the last quarter of 2024, boosted by the presence of political advocacies in view of the upcoming mid-term elections, thus trimming the revenue shortfall in between periods,” it added.
Ad revenues dip, ratings hold
Advertising remained GMA’s main moneymaker, accounting for 92 percent of total revenue—but fell 5 percent year-on-year.
The core GMA 7 channel took the biggest hit, but still led national TV ratings with shows like 24 Oras and Kapuso Mo, Jessica Soho.
Even dramas like Abot Kamay na Pangarap and Pulang Araw maintained solid viewership, with Pulang Araw also becoming the first GMA series to stream on Netflix ahead of its local broadcast.
Costs managed
Operating costs rose just 1 percent to P14.84 billion, reflecting tighter expense control.
Earnings before interest, taxes, depreciation and amortization slipped to P5.23 billion from P6.33 billion, while mixed results from radio and regional TV were partially offset by niche channels like GTV and Heart of Asia.
Box office hits
Box office and digital licensing gave GMA a revenue lift. Hello, Love, Again, co-produced by GMA and ABS-CBN, grossed over P1 billion, becoming the biggest local box office hit of the year.
Other films like Firefly and Balota also did well commercially and on streaming, helping GMA Films reestablish itself as a revenue contributor. However, overall OTT (streaming) licensing earnings for 2024 still came in slightly lower than 2023 levels.
Digital push gains ground
GMA racked up over 40 billion video views across major platforms and reached 37.5 million YouTube subscribers by year-end.
Online ad sales rose by double digits, and the Kapuso Stream platform gained traction. GMA Pictures also launched its own YouTube channel, amassing 275,000 subscribers in just six months.
