ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ABS-CBN Corporation broadcasts through its two national television networks (ABS-CBN & Studio 23),
two Mega Manila radio stations, regional networks of FM stations, and five international premium
television networks (ABS-CBN News Channel, Bro, Cinema One, MYX TV, & The Filipino Channel) prints,
communicates, produces and supports a wide range of media and entertainment to customer
requirements. It conducts operations worldwide.
Results of Operations
Net Revenue
During 2010, ABS-CBN produced net revenue of 16.6 billion, compared to 11.028 billion in 2009 and
10.2 in 2008. The year-over-year increases in net revenue during both 2010 and 2009 were driven by
increase in advertisements.

Increases or
(Decreases) in Amount
Increases or
(Decreases) in
Percentage

2010 2009 2008 2010 2009 2010 2009
Gross Revenues

Airtime


20,531,946

13,395,655

12,503,144

8,028,802

892,511 64.21% 7.14%
Others


13,077

8,330

12,894

183

(4,564) 1.42% -35.40%


20,545,023

13,403,985

12,516,038

8,028,985

887,947 64.15% 7.09%
Less Agency Commissions,
Incentives


and Co-producers' share

(3,934,653)

(2,375,958)

(2,300,099)

(1,634,554)

(75,859) 71.06% 3.30%
Net Revenue


16,610,370

11,028,027

10,215,939

6,394,431

812,088 62.59% 7.95%

Production Costs
The following table represents information regarding ABS-CBNs production costs during each of the
past three years.