GMA Network Inc. intends to invest more in movie-making in the coming years as part of an effort to compete even more with its main rival.

GMA Network Inc. intends to invest more in movie-making in the coming years as part of an effort to compete even more with its main rival.
“‘Yan ang isang bagay. I will be very honest with you, ‘yan ang ating tinatrabaho ngayon and we are still working on it,” GMA President and Chief Executive Officer Felipe L. Gozon told reporters on the sidelines of the company’s annual stockholders’ meeting on Wednesday.
Asked about the company’s plans regarding movie production and the competition with its rival ABS-CBN Film Productions Inc., also called Star Cinema, Gozon said the company intends to put more money in GMA Network Films Inc. He did not elaborate.
“Hindi pa kami nakakabuo, eh. ‘Yung magpapa-andar, ‘yung gagawa. Napaka-importante ng gagawa,” he said.
In the same interview, Gozon said the company is optimistic about hitting its P3.9 billion net income target this year.
“Napakaganda ng nangyari sa ating kompanya last year, at mukhang mas maganda pa ang mangyayari this year. Kaya’t nagpapasalamat tayo sa lahat ng ating mga Kapuso na sumusuporta sa ating mga programa,” he said.
The company reported P842 million in net income in the first three months of the year, down from P1.013 billion a year in the absence of political ads.
“Itong first quarter … mataas ang ating sales. Without the pol-ads, I think we are 16-percent higher kung aalisin ‘yung pol-ads. Kung ilalagay mo, down by 4 percent lang tayo … You can imagine the excess revenues we will get in relation to 2016,” Gozon said. — VDS, GMA News

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