ABS-CBN, Ayala ink deal for mall store
ABS-CBN Corp. on Wednesday said it signed a deal with Ayala Malls to build the first ABS-CBN Experience Store in TriNoma Mall in Quezon City, as the listed media and entertainment company seeks to expand its consumer business.
“The ABS- CBN Experience Store is the start of a strategic and long-term partnership between ABS-CBN and Ayala Malls as the two companies known for innovation and excellence in their respective fields complement each other… Expect big things to come when media and retail converge to provide viewers and shoppers with the best in entertainment and retail,” ABS-CBN President and Chief Executive Officer Carlo L. Katigbak was quoted as saying in a statement.
Earlier, Mr. Katigbak said the company will open the first ABSCBN Experience store in 2017.
The ABS- CBN Experience store will create an “immersive experience” for fans of the network’s TV shows, “by allowing visitors to be part of the shows they follow and play the roles they’ve always wanted to play.”
Apart from selling ABS-CBN merchandise, the store will also become a hub for events featuring the network’s stars.
“At the heart of the experience store are the characters and stories that ABS-CBN will bring to life — whether through immersive or digital attractions, games, and merchandise — and give visitors the opportunity to immerse themselves in the world of their favorite shows,” ABS-CBN Chief Operating Officer of Broadcast Ma. Socorro V. Vidanes said.
ABS-CBN said the store is part of its growing consumer business, which accounts for P17 billion in annual revenues, or 45% of total company revenues. The rest comes from advertising.
The consumer business has three segments — subscription from cable and broadband provider Sky, The Filipino Channel and ABS-CBNmobile; “ticketed experiences” covering movies, concerts, studio tours and Kidzania; and durable goods, which include TVPlus digital boxes, licensed merchandise and products sold via O Shopping Channel.
In the first six months of 2016, ABS-CBN reported its net income surged 76% to P2.1 billion from P1.2 billion a year ago, driven by strong revenues from both regular and election-related advertising.