TV5 lessens losses, eyes break even

MANILA, Philippines — TV5 Network Inc. is finally seeing a clear path to profitability as the company continues to pare down losses.

“Losses are down. They’re moving in the right direction,” TV5 chairman Manuel V. Pangilinan said.

Pangilinan, however, said that profitability is still unlikely to be achieved this year.

“We’re praying that they will just break even. I’m happy with that,”  he said.

MediaQuest Holdings Inc. president and CEO Jane Basas, for her part, said that Pangilinan was “very happy” with the TV5 results recently presented to its board.

“Because the growth trajectory is actually bucking the trend. And this is because we can use the assets across the MediaQuest organization to fuel each other’s growth,” she said.

Basas earlier told The STAR that TV5 is hopeful of achieving a turnaround in its financial performance this year, with the network reducing its losses significantly.

She said the group’s decision to shift TV5 into a full entertainment channel has borne fruit.

Pangilinan-led media conglomerate MediaQuest, the holding company of TV5 and Cignal TV, acquired TV5 in 2009.

Cignal, on its end, also continues to expand its reach.

Basas said Cignal has 1.4 million subscribers across all its over-the-top platforms.

“Our goal is to double the registrations in the next 12 months,” she said.

Cignal is a multi-platform media company offering a wide range of content through satellite television, streaming services and digital platforms.

It recently introduced microdramas, its newest innovation available exclusively on its streaming platform, Cignal Play.

Cignal Play Microdramas are short-form vertical series of compact episodes that pack big stories and emotions in under 10 minutes.

Currently streaming on the Cignal Play app are four micro-series, with one more upcoming title to be launched ahead of more microdrama series set to stream in the next few months.

The first five episodes of every title are free to stream, with full access to the remaining episodes available for only P20 per day.

“We believe that storytelling has the power to connect, inspire and transform. With Cignal Play Microdrama, we’re bringing a new dimension to Filipino content that is short, impactful and relatable,” Basas said.