ABS-CBN Corp. is spending P8 billion this year to expand its cable, broadband and digital infrastructure, a top executive said Thursday.
“We’re still looking at the vicinity of about P8 billion in terms of capex [capital expenditures],” ABS-CBN chief financial officer Aldrin Cerrado said.
“Very much the same allocation as last year, we’re still improving on our infrastructure for broadband which is the biggest grower in terms of revenue and subscribers for the cable, satellite and broadband business,” Cerrado said.
ABS-CBN spent P7.7 billion last year, including P4.11 billon for the company’s digital initiatives, P2.16 billon for cable, satellite and broadband and P1.45 billion for program rights.
The company’s cable, satellite and broadband business posted a 9.1-percent increase in revenues to P8.8 billion in 2016 from P8.1 billion in 2015.
SkyCable saw an 8-percent growth in revenues, driven by the introduction of SkyDirect, its newly launched direct-to-home pay TV offering and the continued sharp increase in broadband subscriber base.