The Kathryn Bernardo and Alden Richards-starrer is currently the highest-grossing Filipino film of all time.
Hello, Love, Again, a historic collaboration between ABS-CBN’s Star Cinema and GMA Pictures, has emerged as SM Cinema’s highest-grossing film of 2024, surpassing Hollywood giants like Inside Out 2 and Deadpool & Wolverine. With SM Cinemas holding a dominant share of the Philippine box office, this achievement underscores the film’s monumental commercial success.
Starring Kathryn Bernardo and Alden Richards, the film grossed P1 billion domestically—marking the first time a Filipino film has reached this milestone—and P1.6 billion worldwide, making it the highest-grossing Filipino film of all time.
Lead Stars and Their Box Office Records
Kathryn Bernardo, ABS-CBN’s premier actress, and Alden Richards, GMA’s top leading man, are proven box office powerhouses. Bernardo previously starred in Hello, Love, Goodbye (2019), which earned P839 million and held the title of the Philippines’ highest-grossing film until 2024. Richards, known for his massive fanbase, has consistently drawn crowds with projects like Imagine You and Me (2016).
ABS-CBN Films head Kriz Gazmen emphasized their bankability, noting, “When we say movie star, who is that artist that people are willing to pay to watch in theaters?” Bernardo and Richards’ combined star power drove Hello, Love, Again to break records, including an P85 million opening day gross—the highest for a Filipino film—and a single-day record of P131 million.
Contribution to SM Prime
SM Prime’s 2024 annual report highlighted a 13% increase in non-property revenues, with cinema ticket sales generating P4.8 billion. Hello, Love, Again topped SM Cinema’s box office rankings, followed by Inside Out 2, Moana 2, Rewind (another Star Cinema film), and Deadpool & Wolverine. The film’s unprecedented domestic earnings of P1 billion significantly contributed to SM Cinema’s robust performance, reinforcing its position as the leading exhibitor in the Philippines and a key gauge of local film success.
Easing ABS-CBN’s Financial Losses
ABS-CBN, grappling with financial challenges following the loss of its broadcast franchise in 2020, reduced its losses by 53% in 2024, from P12.3 billion to P6.1 billion.
The success of Hello, Love, Again played a pivotal role in this recovery. The film’s P1.6 billion global gross, including a record-breaking $2.4 million opening weekend in the U.S. (ranking No. 8 in the U.S. box office), bolstered ABS-CBN’s content production and distribution revenues.
The company reported P2.6 billion in revenues from these segments in Q1 2024, a 10% increase from P2.38 billion in Q1 2023, driven by strong box office performances. Alongside other initiatives like sold-out concerts and digital platform growth, Hello, Love, Again significantly alleviated ABS-CBN’s financial strain, marking a strategic triumph for the media giant.
In summary, Hello, Love, Again, powered by the star appeal of Kathryn Bernardo and Alden Richards, not only set new benchmarks for Filipino cinema but also fueled SM Prime’s cinema revenue growth and provided a critical financial lifeline for ABS-CBN in 2024.
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