JE C.C.
Outlook for ABS-CBN in the stock market is becoming optimistic, as stock prices improved following two landmark deals sealed by the media giant within the week.
Momentum is on ABS-CBN’s side as it expanded across different platforms amid a lack of broadcast franchise. This week, the media giant has sealed two landmark deals, which can be just two of many more milestones that ABS-CBN will accomplish this year.
On April 5, the Kapuso Network hosted a historic contract-signing event between two of the country’s media industry giants: GMA Network and ABS-CBN Corporation. The partnership deal marks the first time ABS-CBN-produced films, through its film production company, Star Cinema, are airing on GMA Network local channels–dubbed as the beginning of a new era in local television.
Star Cinema’s well-loved romcoms and other top-grossing films will be part of the deal.
On April 6, Globe Telecom’s Kroma Entertainment unveiled the new platform, PIE (Pinoy Interactive Entertainment) Channel. The digital TV channel will showcase the coming together of traditional and digital television. ABS-CBN will serve as its leading content provider, and the 917Ventures provides the medium and technology to bring the channel’s vision to the modern Filipino viewers.
On both days, and on the heels of both events–ABS-CBN’s share prices notably improved on the stock market, which shows that trading confidence has been rising for the company.
The volume of stocks traded on April 6 has also surged to nearly 500,000, which is already ABS-CBN’s highest in the past 30 days. This uptick in volume coincides with the rise in stock prices, which has indicated the bullish trend that the Network is projected to take in the stock market.
Stock prices improved to Php 13.20 on April 6, ABS-CBN’ Corp’s highest since last month. The company’s stock price has also improved by 8.9% over 30 days–with the last five days showing a continuously upward pattern.
