ABS-CBN: No campaign splurge in 2016 due to lack of big spenders
ABS-CBN chairman Eugenio “Gabby” Lopez III is not expecting to hit a gold mine in 2016 just like in the 2010 national election year.
“The 2016 presidential elections will not be as profitable as the 2010 presidential elections,” Lopez said during the company’s stockholder’s meeting.
Lopez does not expect next year’s presidential candidates to spend as heavily those who ran in 2010.
Former Senator and dollar billionaire Manny Villar set the bar high in what has been described as the Philippines most expensive elections in 2010. Villar flooded the airwaves months before the elections which forced rivals forced to dig deep in their pockets to keep up with the money race.
In 2010, ABS-CBN’s profits increased by 84 percent to P3.2 billion. In the 2013 senatorial elections, ABS-CBN’s earnings jumped 25 percent to P2 billion after declining in 2011 and 2012.