MEDIA conglomerate Media-Quest Holdings, Inc. said it has found a way to make TV5 Network, Inc. profitable.
“The only way for TV5 to make money is really to transform it into a full entertainment channel because the revenue is on the entertainment side,” MediaQuest President and Chief Executive Officer Jane J. Basas told BusinessWorld on the sidelines of a recent launch event.
“We do see a path to profitability,” she noted, adding that TV5 has not yet reached profitability due to current investments, including the transition from analog to digital TV.
TV5’s current revenue market share is reported to be approximately 13% to 15%, based on recent board meeting data, according to Ms. Basas.
She also said that TV5’s performance is “improving” and is expected to further advance following the premiere of the Will to Win variety show on July 14.
“TV5 is doing very well. We’ve never seen it perform as well as it is now, both on the top line and the bottom line,” Ms. Basas said.
“That is really helped by the fact that we’ve been able to strengthen our programming grid, with Eat Bulaga and just a few days ago, we launched Will to Win,” she added.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest, has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Revin Mikhael D. Ochave
