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Public service is ABS-CBN’s ‘constant,’ president says

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2017/business/04/06/040617_clk2.jpg"/><figcaption><div class="embed-desc">ABS-CBN Annual Stockholders meeting on April 6, 2017. <cite>Ryan Ramos, ABS-CBN</cite></div></figcaption></figure></div>MANILA – Public service will be at the heart of ABS-CBN Corp, even as media and audiences evolve, its president, Carlo L. Katigbak said Thursday.Katigbak told shareholders the story of Primrose, who sought help from ABS-CBN for her four children who were all diagnosed with a rare bone disease.“Nanay Primrose,” Katigbak said, showed &quot;incredible strength&quot; even as one of her already sick children was diagnosed with leukemia while another contracted dengue.“We listen to her story so we can understand how ABS-CBN can be of more help. Instead, we’re left feeling like she had been the one that helped us,” Katigbak said.“Because of her story, we find new meaning in our work and are inspired to pursue our mission of public service. It is in retelling her story to our audiences that we can create hope for many other people who are going through similar journeys,” he added.ABS-CBN Chairman Emeritus Eugenio “Geny” Lopez Jr. instilled in employees the value of public service, saying it was “the only reason we are in business,” Katigbak said.“If a company were to live only for profit, it would not grow. In the end, it would wither off the vine. We have to give back to society,” Katigbak said.“This social contract with the Filipino will ensure our continued growth, despite the changes we now see across society, technology and our audiences,” he said.“Our company will adapt, but to be in the service of the Filipino is our one constant because this is what ABS-CBN stands for,” he said.The country’s largest media and entertainment network posted a <a href="http://news.abs-cbn.com/business/03/20/17/abs-cbn-posts-record-net-income-of-p35b-in-2016">record net income</a> of P3.5 billion in 2016, up 39 percent from the previous year on the back of strong advertising revenues and a growing consumer business.Total advertising this year could grow by 5 to 7 percent compared to 2016 if election-related spending is discounted, ABS-CBN chief finance officer Aldrin Cerrado told reporters.In a written message to investors, Katigbak said the network would pursue four “strategic pillars”: ensuring the creation of the best content while strengthening digital distribution, continuing to build businesses that cater to overseas Filipinos and international audiences, providing new ways to experience ABS-CBN content through businesses like Kidzania and O Shopping and ensuring the development of employees through the ABS-CBN University.“Your company is prepared to adapt and grow in these exciting times,” Katigbak said.

Public service will be at the heart of ABS-CBN Corp, even as media and audiences evolve, its president, Carlo L. Katigbak said Thursday.

Public service will be at the heart of ABS-CBN Corp, even as media and audiences evolve, its president, Carlo L. Katigbak said Thursday.