ABS-CBN VENTURES INTO CINEMA MANAGEMENT WITH CITYMALL

citymall-president-ferdinand-sia-chairman-edgar-injap-sia-ii-abs-cbn-chairman-eugenio-lopez-iii-president-and-ceo-carlo-katigbak-and-star-creatives-coo-malou-santos

ABS-CBN Corporation, the country’s leading media and entertainment company, has entered into an agreement with CityMall Commercial Centers, Inc. (CMCCI), to manage the cinemas of the growing independent community mall chain across Luzon, the Visayas and Mindanao.

Under the partnership, ABS-CBN shall manage the booking and the food & beverage operations of CityMall’s mini theaters, while CMCCI, a subsidiary of DoubleDragon Properties Corp., will build and open the cinema infrastructure.

The theaters will be built in CityMall branches in Tagum, Davao, Victorias, Negros Occidental, Anabu, Imus, Cotabato City, Bulua, Cagayan de Oro, Koronadal City, Consolacion, Cebu, Mandalagan, Bacolod City, Sta. Rosa, Nueva Ecija, and Dumaguete, Negros Oriental.

As CityMall’s cinemas’ booking agent, ABS-CBN shall determine what movies shall be screened, including the regular screening of Star Cinema productions.

ABS-CBN chairman Eugenio Lopez III, ABS-CBN president and CEO Carlo Katigbak, ABS-CBN group chief finance officer Rolando Valdueza, Star Creatives chief operating officer Malou Santos signed the partnership together with CityMall Commercial Centers, Inc. chairman Edgar Sia II and president Ferdinand Sia.

ABS-CBN’s venture into cinema management is part of the company’s consumer business, which now accounts for P17 billion in annual revenues, or 45% of total company revenues, with the remaining 55% percent generated from advertising.  It is generated from three types of businesses, namely subscription, ticketed experiences, and durable goods.

ABS-CBN recently reported a consolidated revenue of P31.1 billion for the first nine months of 2016, with a net income to PHP 2.85 billion, 50% higher compared to the same period last year.

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.

ABS-CBN MAGPAPATAKBO NG MGA SINEHAN NG CITYMALL SA BUONG BANSA

Papasukin na ng ABS-CBN ang pagpapatakbo ng mga sinehan sa iba’t ibang branches ng CityMall sa Luzon, Visayas, at Mindanao.

Pumirma ng kasunduan ang mga pamunuan ng ABS-CBN Corporation at ang CityMall Commerical Centers Inc. (CMCCI) kahapon. Kasama sa lumagda ng kasunduan ang chairman ng ABS-CBN na si Eugenio Lopez III, ang president at CEO na si Carlo Katigbak, ang group chief financial officer na si Rolando Valdueza, ang chief operating officer ng Star Creatives na si Malou Santos, ang chairman ng CMCCI na si Edgar Sia II at ang president nitong si Ferdinand Sia.

Ayon sa kasunduan, ang ABS-CBN na ang magpapatakbo ng mga sinehang ipapatayo ng CityMall, kasama na rito ang pagpapalabas ng mga pelikula at ang pagpapatakbo ng food and beverage stores nito.

Itatayo ng CityMall, na pagmamayari rin ng DoubleDragon Properties Corp., ang mga sinehan sa Tagum, Davao, Victorias, Negros Occidentla, Anabu, Imus, Cotabato city, Bulua, Cagayan de Oro, Koronadal City, Consolacion, Cebu, Mandalagan, Bacolod City, Sta. Rosa, Nueva Ecija at Dumaguete, Negros Oriental.

Ang ABS-CBN ang nangunguang media company sa bansa. Tahanan ito ng mga nangungunang mga palabas, mga pelikulang patok sa takilya, at mga best-selling na libro at mga sikat na artista. Nangunguna rin ang ABS-CBN sa paglipat sa digital media at patuloy itong nagbabago para sabayan ang lumalawak na teknolohiya gaya ng digital television.

Comments are closed.