GMA Network, Inc. is set to expand its regional footprint with a new station in Palawan this year after opening one in Ilocos Norte two months ago, its top official said.

“In 2023, GMA Regional TV launched GMA Ilocos Norte and is now working on GMA Palawan,” GMA Chairman and Chief Executive Officer Felipe L. Gozon said during the company’s virtual annual stockholders meeting on Wednesday.

GMA Ilocos Norte is the network’s 12th regional station n the Philippines. It was launched on March 17.

Last year, the network launched three originating stations: GMA Batangas, GMA General Santos, and GMA Zamboanga.

Meanwhile, Mr. Gozon said that the company will continue to pursue partnerships with various entities.

“We are now in an era of partnerships and this has led our expansion to new genres and diversified our revenue streams,” he said.

“These collaborations aim to expand the distribution of GMA Pinoy TV, GMA Life TV, and GMA News TV in various territories, into new content platforms,” he said, adding that the company has also reached “underserved demographic segments, like the Pinoy seafarer community.”

GMA has recently closed deals with ABS-CBN’s iWant TFC, Jungo Pinoy, and Now E of PCCW Hong Kong, said Mr. Gozon.

“Our GMA international department is also diversifying its revenue streams to complement traditional subscription revenues by further strengthening its concert and event production, content partnerships, and digital monetization efforts,” he added.

In the first quarter, the company suffered a 71.5% decline in attributable net income to P603.57 million from P2.12 billion a year ago due to lower revenues from advertisements.

GMA booked 31.5% lower revenues to P4.02 billion in the first three months of 2023 from P5.86 billion in the same period in 2022.

Revenues from advertisements went down to P3.7 billion, down 71.5% from P5.53 billion previously.

On Wednesday, shares in the company climbed 32 centavos or 3.46% to P9.57 each. — Justine Irish DP. Tabile