PHILIPPINES — The country’s top free-to-air television networks are grappling with financial losses and are currently exploring collaborative measures to ensure the long-term viability of the broadcasting industry, according to media mogul and business tycoon Manuel V. Pangilinan.
Pangilinan pointed out that intense competition within a limited market has made sustained profitability increasingly difficult for broadcasters. While he did not explicitly name the networks involved, the discussions are widely understood to include GMA Network, ABS-CBN Corporation, and TV5, which operates under Pangilinan’s MediaQuest Holdings.
“We have to address this,” Pangilinan said. “The industry is trying to collaborate. We are talking among each other to see how we can save the industry in the long run.”
Structural Changes and Consolidation
Highlighting the gravity of the situation, Pangilinan emphasized that structural reforms, including potential industry consolidation, may be necessary to keep free-to-air television sustainable. He noted that the traditional belief that increased competition always benefits the market may no longer hold true given the country’s economic scale.
“There are hurdles along the way. There’s space for consolidation. We have been thinking all along that more competition is better but the market is small,” he explained.
Safeguarding the Free Press
Pangilinan cautioned that leaving these systemic challenges unaddressed threatens not only the survival of commercial television networks but also the broader role of the media in upholding a free press.
“In the medium term, something’s got to give, something has to happen to address what’s wrong with the structure of the industry, meaning the continuing presence of a free press,” Pangilinan warned.