Studio 23 turns the corner, gears up for competition

October 5, 1999 PSE CIRCULAR FOR BROKERS NO. 2516-99 Studio 23 turns the corner, gears up for competition Studio 23, the UHF channel affiliate of ABS-CBN Broadcasting Corporation, posted profits of P25.8 million in the first half of the year, a turnaround from the full-year loss of P75.2 million incurred in 1998. Manuel Quiogue, Studio 23 managing director, expects an even more robust performance toward yearend as the unit estimates a net income at least P15 million for the third quarter alone. He attributes the year's record revenues to better programming, acceptance by its target viewers and positive perception of advertisers. Studio 23 broadcasts all English language programs through a nationwide network of UHB stations. In a survey conducted by Trends, Studio 23 emerged as the number one channel among the AB socioeconomic group and also among the ABC 12 to 24 age group. In terms of image among the ABC respondents, the station was second only to ABS-CBN Channel 2 under "most exciting" and in the category "hip and cool". The industry perceives Studio 23 as a trailblazing channel owing to its innovative concepts, flexibility, and introduction of new, high quality products both in terms of programs and advertising opportunities. The station has also improved its signal quality tremendously. It owns and operates 26 broadcasting stations throughout the Philippines. "Due to our continuing investments in better facilities and transmission equipment, Studio 23 now has a signal that is as crystal clear as anyone else's in Mega Manila. Mega Manila is not just Metro Manila but includes the surrounding provinces such as Bulacan, Pampanga, Cavite, Rizal, Laguna and Batangas," Quiogue says. He adds that the UHF channel now has the third most extensive reach nationwide, behind only ABS-CBN Channel 2 and GMA 7. Studio 23 directs programming toward a young, upscale audience not specifically targeted by the leading VHF channels. It is the station of choice for advertisers who want to reach affluent audiences. It broadcasts some 47 hours of MTV per week of airtime, airs Metropolitan Basketball Association games three times a week and shows strong programs from the US such as Dawson 's Creek, Charmed and Part of Five . Quiogue believes the station will maintain its competitive edge not only over other free channels (both VHF and UHF) but also over cable channels which target the same young audiences. "There are a lot of channels on cable. And the top cable channel HBO, does not accept advertisements. So, if an advertiser wants to focus on the affluent or the youth, Studio 23 can offer him a complete array of program options," he concludes.