ABS-CBN now into cinema management

  • Page Views 1680
  • 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 and 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 COO 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 percent of total company revenues, with the remaining 55 percent 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 percent higher compared to the same period last year. (MS)

    Share

    New Posts Recently publish post More

    • 28 January 2023
      15 hours ago No comment

      Tinig Migrante By E Maestro

      Minister Fraser’s Pathway Announcement: “Disappointing” Migrant organizations, migrant justice advocates, allies, and the thousands of undocumentedmigrants all across Canada still have to see Prime Minister Justin Trudeau deliver onthe promise he made on December 16, 2021 to create a regularization program that willensure regularization for undocumented migrants and permanent ...

    • 27 January 2023
      15 hours ago No comment

      Hop on to the Year of the Rabbit

      Welcome to the Lunar Year of the Water Rabbit! On Jan. 25, let’s wish formerpresident, the late Cory Aquino, a very happy birthday in heaven! Rabbits are cute, cuddly, joyful furry creatures and many believe to be superproductive, too. They reproduce fast, which makes them ideal to breed for ...

    • 20 January 2023
      1 week ago No comment

      Wala siyang ginawang mali’: Shamcey Supsup on Celeste Cortesi, Miss Universe Philippines future plans

      MANILA, Philippines — Miss Universe Philippines National Director Shamcey Supsup commended Miss Universe Philippines 2022 Celeste Cortesi for a job well done at the recently concluded 71st Miss Universe pageant. The Miss Universe 2011 3rd runner-up also stressed that Celeste should be proud of herself and that the Philippine ...

    • 20 January 2023
      1 week ago No comment

      The Menu (PG) *** Running time: 1h 47m Bon Appetit! By Robert Waldman

      Dine out on the antics displayed in The Menu. Now be honest, who doesn’t like to go toa nice restaurant for a good meal? All of us like to be wined and dined. Only the guestswho sign up for The Menu get just a little more than they bargained ...

    • 20 January 2023
      1 week ago No comment

      Liza Soberano is moving to LA

      Liza Soberano is moving to Los Angeles, California.This she shared through Filipino–American makeup artist Patrick Starrr’s mostrecent vlog where she underwent a transformation as Miss Universe.When Patrick asked why she is moving to the City OF Angels, Liza explained it’s a careermove.She said: “That’s just because it is much ...

    %d bloggers like this: