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| (Image Source: PhilStar.com/TV5 Network Inc.) |
TV5 Network Inc. has literally saw and found towards profitability and expects to finally put an end to years of financial struggles with its first profitable year under the MVP (Manuel V. Pangilinan) group potentially happening within 2025. In an interview with The Philippine STAR, MediaQuest Holdings Inc. and Cignal TV Inc. President and Chief Executive Officer Jane Jimenez Basas shared that the network is hopeful on achieving a turnaround in its financial performance this year, stating, “It’s not something that I can work on overnight. But we are targeting, hopefully, this year we hit positive EBITDA (earnings before interest, taxes, depreciation and amortization). So if we hit that, that’s the first time in the history of the organization.”
The MVP-led media conglomerate MediaQuest, the holding company of TV5 and Cignal TV, acquired TV5 in 2009. Basas said that TV5 has reduced its losses significantly through the years in its long path to profitability, saying, “Actually, we’re going against the trends in the industry. I know the entire industry is suffering. We’re going in the opposite direction. Boss (Manuel V. Pangilinan) said, you know you’re not out of the woods yet, but at least I see that you’re headed in the right direction. So feedback like that means a lot because that means we’re doing the right things.” Also according to Basas, the group’s decision to shift TV5 into a full entertainment channel is now bearing fruit. She said, “TV5 we’re very excited. We switched TV5 into a pure entertainment network. I believe we did that in 2023. So 2024 was really a year of developing the pipeline. So this year, at least for the next two years, I have visibility to the pipeline already. The North Star is very clear, as opposed to the past, we didn’t know whether are we sports or are we entertainment. Now it’s very clear. RPTV is the sports channel that we’re trying to develop and TV5 is the entertainment channel.”
In February 2024, MediaQuest and TV5 signed a content distribution, sales and marketing agreement with Cabangon-owned Nine Media Corporation in a deal that formalized the launch of a new free TV channel called RPTV which showcases an inclusive variety of news and sports programs including EAT Bulaga, Wanted Sa Radyo, and the PBA among others. With its renewed focus on entertainment content, TV5, on the other hand, is currently building a lot of its backend capabilities through original programming such as EAT Bulaga and Wil To Win and highly-engaging partnerships with top Philippine production companies such as VIVA Communications and ABS-CBN Studios in providing entertainment content for Filipino audiences across broadcast and digital platforms. “As you know we’re quite late in focusing TV5 as an entertainment network so we’re developing our capabilities to build up talents. We’re now looking for young talents that we can hone and making sure that the programing of the TV network is good enough so that we can actually grow these talents overtime. It’s something like a laddering strategy so we can make big stars out of them,” said Basas.
Finally priming up for profitability and continuing to set new standards beyond Philippine entertainment on the country's impending full transition to digital terrestrial television broadcasts, expect TV5 to provide Filipino viewing households with an inclusively innovative sleuth of programs catering to those of all ages that are sure to become captivatingly enjoyable and trubitastically refreshing amidst the challenges of everyday life. These include the Philippine free TV premiere of ABS-CBN Studios' How To Spot A Red Flag; new seasons of Sing Galing, Masked Singer Pilipinas, and Artista Academy; and much more that redefine its most bankable tagline "Iba Sa 5".
(With words by Richmond Mercurio, The Philippine Star)
