TV5 Network Inc. on Thursday announced the rebrand of its sports channel Aksyon TV to 5 Plus as part of a strategy to meet its break-even target this year.
“We are excited to start the new year with the launch of 5 Plus. The intent was to create a home for what we call atypical sports—titles with a highly engaged audience base that don’t typically receive visibility of this scale,” TV5 president and chief executive Vincent Reyes told reporters.
“Expanding our sports coverage also enables us to attract a new audience: the younger sports fan. 5 Plus aims to serve content that resonates with the pace of their active lifestyle, and is in line with their varied interests. The combination of both 5 and 5 Plus allows us to cement and expand further our foothold in sports,” he added.
The rebrand sees a complete overhaul of the channel’s look, aimed at visually communicating its new identity.
“With 5Plus coming on board, hopefully, we can further improve that [advertising revenues] by the end of the year,” Reyes said.
He said the company was still confident of achieving its target to post break-even this year. “That still remains to be a target, more importantly, in 2018 we improved our bottom line by 30 percent. Shifting to sports allowed us to greatly reduce our expenditures. So far that’s very promising.”
“It’s very difficult to achieve that by the end of the year. But I am confident that we have assembled a team that is going to take advantage of any such opportunity that will allow us to achieve that target by end of this year. It remains a target,” he said.
MediaQuest Holdings Inc. bought TV5 in 2009 from the Cojuangco Group for P4 billion, and acquired MPB Primedia of Malaysia, a TV5 major block-timer, for $16 million.