MTRCB projects 40% drop in revenues due to ABS-CBN closure, COVID-19

The Movie and Television Review and Classification Board (MTRCB) expects to lose about 40% of its revenues because of the closure of broadcast company ABS-CBN Corporation, its chairperson Maria Rachel Arenas said Friday.

During a Senate panel deliberation on the proposed P105.9 million budget of the MTRCB, Senator Grace Poe asked about the impact of the shutting down of a big network to the agency.

"What is your estimate with the loss of one network, how much are you predicting that you are probably losing already or will continue to lose in terms of revenues?" asked Poe, a former MTRCB chairperson.

"It would be about 40%," Arenas answered in response.

Poe clarified if all of that can be attributed to the closure of the media network.

"Yes, and also because of the pandemic now, mas kaunti nagpapa-review. Even sa mga movies at mga networks mas kaunti ang pinapareview nila," Arenas said.

MTRCB's total revenue collections from January to August 2020 was at P59 million.

According to the MTRCB, out of its total revenues of P136 million in 2019, ABS-CBN brought in P22.7 million. The network also contributed over P7 million during the first part of 2020.

Arenas said the MTRCB is hopeful that its revenues would pick up as cinemas in provinces start to open around December.

The senators expressed full support for the budget request of the MTRCB in 2021 and endorsed it to the plenary.—AOL, GMA News