ABS-CBN Mobile to trim losses this year
ABS-CBN Corp. expects its mobile unit to narrow losses to P400 million by yearend from P600 million the previous year.
Aldrin Cerrado, CFO at ABS-CBN, said it was unlikely that ABS-CBN Mobile would break even next year especially with the expected expiration of its mobile network sharing agreement with Globe Telecom in June 2018.
Cerrado said the group is now reviewing its mobile business strategy, which he expects to complete by January or February next year.
“The direction is to have a mobile strategy in order to maximze the revenue potential of our content in many platforms as posisble including mobile,” Cerrado said.
“Globe is waiting for us to decide and we are awating the recommendation of our mobile team as to what kind of business will evolvem,” he added.
Under the agreement signed in May 2013, Globe was tasked to provide capacity and coverage on its existing cellular mobile telephony network to ABS-CBN Convergence Inc. on a nationwide basis.