MANILA, Philippines — The Movie and Television Review and Classification Board (MTRCB) is projecting a 40 percent income loss following the closure of broadcast giant ABS-CBN.
During the Senate hearing on MTRCB’s proposed budget for 2021, Senator Grace Poe asked the board of its estimated income loss with the shutdown of ABS-CBN.
“What is your estimate, with the loss of one network like ABS-CBN, how much are you predicting that you are probably losing already or will continue to lose in terms of revenue in the coming months?” Poe asked.
In response, MTRCB chair Rachel Arenas said: “It would be about 40 percent.”
ABS-CBN was forced to close down after its franchise expired on May 4 and Congress junked its bid for a fresh 25-year franchise.
Arenas added that the pandemic is also affecting its income.
“Also because of the pandemic now, mas konti po yung nagpapa-review even yung sa mga movies and yung mga networks mas konti yung pinapa-review nila so talagang mababa po yung amin pong income this year,” she added.
(Also because of the pandemic now, there are only few who are getting their movies reviewed. Our income for this year is really low.)