ABS-CBN continues to lose huge amount due to shutdown, pandemic

ABS-CBN continues to lose huge amount due to shutdown, pandemic

- ABS-CBN revealed that the company continue to lose millions in daily advertising revenues

- This is due to its broadcast shutdown and the current pandemic as well

- ABS-CBN chief operating officer of broadcast Cory Vidanes publicized about this matter in a media statement

- She also said that artists with currently airing shows and their talent managers have agreed to take a cut in their talent fees to help the network

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Giant media network ABS-CBN revealed that the company continue to lose millions in daily advertising revenues due to its broadcast shutdown and the current pandemic.

ABS-CBN continues to lose huge amount due to shutdown, pandemic

ABS-CBN continues to lose huge amount due to shutdown, pandemic
Source: Facebook

KAMI learned that in a media statement, ABS-CBN chief operating officer of broadcast Cory Vidanes said that artists with shows currently airing and also their talent managers have agreed to take a cut in their talent fees to help the network during these difficult times.

“We are grateful to all our artists for their understanding and support for the network during these difficult times. We thank them for keeping the passion and commitment to bring joy and entertainment to our audience in the midst of the pandemic and the shutdown,” she stated.

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Vidanes said that the pay cut is one of the “cost-saving measures undertaken by ABS-CBN as it continues to lose P30 to 35 million in daily advertising revenues due to the broadcast shutdown, as well as the COVID-19 pandemic, which led to stricter production guidelines for tapings and staging of live entertainment shows.”

It can be recalled that the network launched the new Kapamilya Channel on June 13 on cable and satellite TV nationwide which brought back some ABS-CBN programs on air such as FPJ’s Ang Probinsyano, A Soldier’s Heart, Love Thy Woman, Magandang Buhay, The Voice Teens, ASAP Natin ‘To and It’s Showtime.

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In a previous report by KAMI, Juan Ponce Enrile aired his thoughts on the argument regarding ABS-CBN's Gabby Lopez’s citizenship.

ABS-CBN is one of the leading broadcast networks in the Philippines. Its 25-year franchise expired on May 4 and it was not able to secure another franchise.

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Source: Kami.com.ph

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