ABS-CBN Corporation, the country’s largest media and entertainment company, continues to grow its consumer business as it entered into an agreement with Ayala Malls, the premier lifestyle malls in the country, to build the first ABS-CBN Experience Store in Trinoma Mall in Quezon City.
ABS-CBN president and CEO Carlo Katigbak and chief operating officer of broadcast Cory Vidanes sealed the partnership with Ayala Land head of commercial business, Jose Emmanuel Jalandoni and Ayala Malls group head Rowena Tomeldan.
The signing closely follows ABS-CBN president and chief executive officer Carlo Katigbak’s announcement in August that the company is planning to open its first experience store in 2017.
“The ABS-CBN Experience Store is the start of a strategic and long term partnership between ABS-CBN and Ayala Malls as the two companies known for innovation and excellence in their respective fields complement each other, with ABS-CBN delivering various ways for viewers to experience the stories and characters that Kapamilyas have come to love and Ayala opening fresh and exciting retail experiences through its malls all over the Philippines,” said Katigbak. “Expect big things to come when media and retail converge to provide viewers and shoppers with the best in entertainment and retail.”
The ABS-CBN Experience store offers an immersive experience of the Kapamilya network by allowing visitors to be part of the shows they follow and play the roles they’ve always wanted to play. Also to be showcased is ABS-CBN’s wide assortment of merchandise that allows customers to own a piece of the Kapamilya stories they follow. The experience store will also be the hub of events that will allow people of all ages to spend time with their favorite Kapamilya stars.
“At the heart of the experience store are the characters and stories that ABS-CBN will bring to life—whether through immersive or digital attractions, games, and merchandise—and give visitors the opportunity to immerse themselves in the world of their favorite shows,” Vidanes said.
The ABS-CBN Experience Store forms part of the company’s rapidly expanding consumer business, which now accounts for P17 billion in annual revenues, or 45% of total company revenues. Fifty-five percent is generated from advertising. In August, the company announced its H1 income reached P2.1 billion.
ABS-CBN’s consumer business is generated from three types of businesses, namely subscription, ticketed experiences, and durable goods.
The subscription business covers cable and broadband provider SKY, The Filipino Channel, and ABS-CBNmobile and is the largest in terms of sales.
The ticketed experiences category, which comes second in consumer business sales, includes movies, concerts, mall events, studio tours and the recently launched mini-theme park Kidzania. The ABS-CBN Experience Store falls under this category.
Meanwhile, durable goods, which cover ABS-CBN TVplus digital boxes, licensed ABS-CBN merchandise, and products sold via the O Shopping Channel, is the company’s youngest but fastest growing business.
ABS-CBN is home to the nation’s top-rating TV programs, box-office films, and best-selling books and music. With the ability to harness the latest in technology and innovation, the company is rapidly transitioning into an agile digital company with the biggest online presence among all media companies, and a growing list of digital properties. ABS-CBN was also first in the country to offer content online and on mobile, and even pioneered digital television in the nation.