Cheyenne Suarez

President’s Report during the ABS-CBN Annual Stockholders’ Meeting 2026

Article (news)

ABS-CBN News

<div><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/1787106664273Carlo-L.-Katigbak.jpg" style="width:960px" class="fr-fic fr-dib" width="960"/>Carlo L. Katigbak, President and CEO of ABS-CBN Corp </div><div> </div>Mga Kapamilya, magandang umaga po sa inyong lahat.These are not normal times for your company.  We have been through one crisis after another, most of them existential in nature.  Yet to me, this period in our history is a defining moment, not just for those of us who work here, but also for you, our co-shareholders.  It is a chance to decide whether “In the Service of the Filipino” was just a compelling slogan that served us well in good times, or if it is the genuine reason for our existence, proven because we embraced it in impossible times.ABS-CBN is a business, of that there is no doubt.  We need profits to sustain the work that we do.  We owe it to our shareholders to deliver a fair return on your capital.  We owe it to our banks, our employees, our partners to make good on all our obligations to them.But we also hold dear our mission of public service—to serve the Filipino through the power of storytelling. We believe that a democracy needs institutions that tell stories which can be trusted, which ensure that those in power remain accountable to the people, and which lend a voice to those who might otherwise have remained unheard.We believe that our culture, our ethos, is shaped by the strength and relevance of stories.  TV shows and movies that reflect the reality of our lives. Music that embodies the talent and spirit of the Filipino. Programs that ensure the Filipino diaspora stays connected to their roots.  These stories keep the Filipino culture alive and strong.That is why, despite the many setbacks we’ve faced, we continue to fight for the survival and the recovery of your Company.  We have faith that the collective work of four thousand dedicated Kapamilyas—employees, artists, creatives, journalists—will bear fruit at the right time.  We hold on to the conviction that financial returns will follow for as long as we continue to tell stories that matter to the Filipino.And here is the proof that in 2025, ABS-CBN continues to be one of the country’s leading storytellers:In television, both Batang Quiapo and Showtime led in their respective time slots.ABS-CBN broke new ground with the highly successful Pinoy Big Brother Collaboration with GMA Network.  In music, BINI has hit 2 billion streams across various music platforms.  They have catapulted Filipino music to the global stage, becoming the first all-Filipino group to perform in Coachella.  They were also recently tapped by DreamWorks Animation and Universal Pictures to perform the soundtrack for the film The Forgotten Island.  BINI’s global success is proof that ABS-CBN can channel its creative strengths to reach an international audience.We also produced a mini-series, The Silent Noise for Amazon Prime [Video], which won the Best Asian Content at the Global OTT Awards 2026.On Netflix, Sosyal Climbers topped the Philippine charts and was part of Netflix’s top 10 non-English films globally.On YouTube, our stories have reached over 55 million subscribers as the No. 1 entertainment channel in Southeast Asia.In movies, the three highest-grossing Filipino films of 2025 were from Star Cinema with a combined box office of P900 million (Call Me Mother, Meet/Greet/Bye/My Love Will Make You Disappear).In news, our Halalan 2025 marathon coverage drew 8 million combined livestream views, the largest online viewership for the election coverage. TV Patrol continues to be a major newscast in the country and abroad, while ANC remains one of the most watched channels for live and special marathon coverages.Globally, we have been taking our shows to the rest of the world, with ASAP selling out two shows in Vancouver, Canada last year.Our ABS Foundation, despite its radically reduced size, assisted almost 30,000 families affected by natural disasters.Across all these different customer touch points, ABS-CBN’s stories continue to demonstrate relevance, resonance, and value to the Filipino, and increasingly, to a global audience as well. These achievements matter not only because they demonstrate the strength of our storytelling, they are also helping us rebuild the business.The first full year after we lost our franchise, total ABS-CBN revenues (excluding Sky) dropped from P33.2 billion in 2019 to P9.3 billion in 2021. In 2025, we brought revenues to P12.6 billion, our highest since the franchise loss.  We have done this while fundamentally changing our cost structure.  In 2019, excluding Sky, we were spending P15 billion in general expenses and manpower costs. In 2025, combined GAEX and manpower cost was down to P6.9 billion.That is a 54 percent reduction compared with pre-franchise spending.We have also consistently been paying down debt. In 2019, we had P20.5 billion in outstanding debt, excluding Sky.  Through various asset sales, we have managed to bring that down to just under P8.5 billion, a reduction in debt of 58 percent.Our net losses, excluding Sky, have also continued to decrease.  Recurring net income before one-time gains and losses stood at negative P2.5 billion in 2025, compared with a loss before non-recurring income and write-offs of P8.3 billion in 2020. Each year since 2020, our recurring net losses have decreased.  On a consolidated basis with Sky, total revenues reached P15.8B, a decline of P1.5 billion, or 9 percent, from the previous year&#x27;s P17.3 billion. This was driven by the decline of P2 billion in the Cable TV and Broadband segment as the subscriber base continued its decline.Consolidated net loss for the year with Sky amounted to P4.7 billion, an improvement of P1.4 billion, or 23 percent better, compared to the prior year&#x27;s net loss of P6.1 billion. Excluding one-time gains and expenses, recurring consolidated net loss for the year, improved by P588 million, or 13 percent versus the same period last year.We recognize that we are not yet where we need to be. And while this has no doubt been a difficult chapter in ABS-CBN’s history, we continue to believe with complete confidence that the momentum you are seeing will carry us through to profitability.Our revenues are recovering. Our cost base is significantly lower. Our debt is reduced. And our losses continue to narrow.At the same time, our stories continue to find large audiences across television, digital platforms, cinemas, music and global markets.  We no longer depend on owning platforms to reach audiences—instead building partnerships that would have once seemed impossible.We create stories that matter to Filipinos, and are proving that Filipino stories and talent can compete in the global stage.This is a new ABS-CBN that we are building, faithful to our mission of public service, but adapting to a different time and circumstance. Our next chapter will be about proving that ABS-CBN can rebuild a company strong enough to serve the Filipino for generations to come.On a final note, and on behalf of your Board, your leadership team, and all the people who proudly call themselves Kapamilya, thank you for your continuing support.  We remain eternally grateful to those who choose to believe that your company exists not only for profit, but to do good as well.  Maraming salamat, Kapamilya.- Carlo L. Katigbak, President and CEO of ABS-CBN

ABS-CBN President and CEO Carlo L. Katigbak highlights the company's success in reaching global audiences, while narrowing its losses and expanding revenues since losing its broadcast franchise.

ABS-CBN President and CEO Carlo L. Katigbak highlights the company's success in reaching global audiences, while narrowing its losses and expanding revenues since losing its broadcast franchise.