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TV5, the third largest broadcasting network in the Philippines is proving that it can soar high. For the year 2011, TV5 hits a revenue of 1.68 billion pesos which is more then doubled compared to their 2010 revenue of only 739 million pesos.
Ray C. Espinosa, the president of TV5 said, "This year our revenue target is over P4 billion and we are confident of hitting that just as we hit our target revenue in 2011."
He further said that TV5's income last 2009 was only P123 million. TV5 expects to hit a revenue of 4 billion pesos this year.
The network is setting aside P3 billion in capital expenditures, or a billion pesos more than last year's spending plan. "This is our programmed capex for the year as we are set to transfer to our new office by middle of this year," Espinosa said, adding that another P4.5 billion is allotted for the next two years.
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