As the company continues to navigate its pivot to being a content powerhouse, six years after it lost its broadcast franchise.
At the recent ABS-CBN annual stockholders’ meeting on August 19, President and CEO Carlo Katigbak (CLK) directly stated in his message to shareholders the media giant’s current positioning as a content-driven company.
“We no longer depend on owning platforms to reach audiences—instead building partnerships that would have once seemed impossible,” he said. “We create stories that matter to Filipinos, and are proving that Filipino stories and talent can compete in the global stage.”
Katigbak also emphasized that the “new ABS-CBN” they are building remains faithful to their mission of public service, but is also adapting to a different time and circumstance.
“Our next chapter will be about proving that ABS-CBN can rebuild a company strong enough to serve the Filipino for generations to come,” he stressed.
Prior to that, the company’s chief also openly stated that the entire company is not currently in a “defining period” in its eight-decade-long history.
“It is a chance to decide whether “In the Service of the Filipino” was just a compelling slogan that served us well in good times, or if it is the genuine reason for our existence, proven because we embraced it in impossible times,” CLK added.
He also acknowledged that ABS-CBN is a business and they need profits to sustain theor work and owes it to shareholders to deliver a fair return on their capital and to banks, employees, and partners to “make good on all our obligations to them.”
“But we also hold dear our mission of public service—to serve the Filipino through the power of storytelling,” stressed Katigbak.
The executive also said that he believes that democracy needs institutions to tell stories that can be trusted, ensure those in power remain accountable to the people, and lend a voice to those unheard.
“We believe that our culture, our ethos, is shaped by the strength and relevance of stories. TV shows and movies that reflect the reality of our lives. Music that embodies the talent and spirit of the Filipino. Programs that ensure the Filipino diaspora stays connected to their roots. These stories keep the Filipino culture alive and strong,” he furthered.
Katigbak also expressed faith in the work of the comapny’s more than four thousand employees amid their continued fight for survival.
“We hold on to the conviction that financial returns will follow for as long as we continue to tell stories that matter to the Filipino,” he added.
Meanwhile, as mentioned by CLK, ABS-CBN has largely pivoted to partnering with different companies and outfits both in the Philippines and abroad.
Currently, the Kapamilya network has live partnerships with GMA, TV5, ALLTV, A2Z, Netflix, and Prime Video, among others.
For his part, Chief Partnerships Officer Roberto Barreiro said, “As a content company, ABS-CBN will continue to explore opportunities to create more content and serve its various publics as best as it can.”
He furthered, “We are therefore open to working with other media entities under terms that are beneficial to our company.”
