Director and Businessman Lester Pimentel shared his opinion with ABS-CBN’s closure via his Instagram account. He believes that the network will return in 2 years stronger than ever.
“Give it 24 months, ABS-CBN can get back on its feet and maybe a stronger and better media company than ever before…” said Lester via Instagram.
In his September 6, 2020 post, he used his business expertise to analyze how ABS-CBN will recuperate from its shutdown and closure. He believes that it will be through the network’s content library.
“As a businessman analyzing what happened to ABS-CBN, ito ang opinion ko… Sa mga taong nagiisip na ABS-CBN is down and out. Remember this, ABS-CBN has the richest library of content in Philippine history. ‘Content is King’ and that’s the most powerful asset a media company can have,” said Lester via Instagram.
Lester also noted that the network has a large pool of producers, directors, and creatives despite the loss of revenue from Free TV.
“Other than that, it still has the best pool of producers, creative people, and directors in the Philippines …Its ability to create content and superstars are never diminished. It will continue to produce in the years to come. Free TV ang nawala, a huge source of advertising revenue, it became a bitter pill to swallow, but it accelerated it’s move to the digital realm, and the process of future proofing the company,” Lester added on Instagram.
Congress denied ABS-CBN’s franchise resulting in the company’s 3.93 billion loss, retrenchments, and closure of the units. The network has currently pushed all of its content to digital platforms.
The network is also rumored to do blocktime agreements with TV5 and GMA 7 to release their content via Free TV. Star Magic, ABS-CBN’s talent arm has also arranged projects for artists with rival networks.
