GMA Network, Inc. plans to spend more than P20 billion for its three-year projected capital expenditures (CAPEX) budget to construct a new building and launch a new digital TV receiver to expand their reach in various regions.

The Kapuso network earmarked more than P20 billion for capital expenditures from 2021 to 2023.

On Wednesday, January 6, GMA shared that the new building to be constructed at its compound in Quezon City will be used to house state-of-the-art studios. GMA also allocated a large chunk of the budget for content production and post-production operations.

GMA Now

The network also plans to launch GMA Now, a digital TV receiver which allows viewers to watch on the go for free.

The 3-year capital expenditure also covers the continued expansion of the network’s digital terrestrial television (DTT) reach in various regions. The move will help further strengthen the network’s presence all over the country.

“Surpassing 7 decades is no easy feat for our company especially during an exceptionally challenging year in 2020, but we are very proud of what we have achieved so far through our people’s dedication and our commitment to serbisyong totoo (true service),” said GMA Network and CEO Felipe Gozon.

“We wholeheartedly thank all our Kapuso for their unrelenting support to GMA,” Gozon added. “Rest assured that your Kapuso Network will continue to provide only the best for our viewers.”

GMA network saw an increase in its earnings by 79% in the first 3 quarters of the previous year. However, it was mostly due to various cost-cutting measures and the shutdown of ABS-CBN, its rival network.

The Kapuso Network remains committed in their vision of providing world-class entertainment and ensuring the timely delivery of relevant news and information to Filipinos all over the globe.

(Source – GMA News)

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