MANILA, Philippines - TV5, The Channel previously known as ABC 5, is now the No. 3 most watched station nationwide, according to a survey conducted by the AGB Nielsen Media Research data on National Urban Television Audience Measurement.

In its first week of airing, TV5 captured 3.7 percent of viewership in key cities according to the survey on Channel Household Shares Week 33.

ABS-CBN placed first at 42.2 percent and GMA 7 landed the second spot at 37.3 percent.

The study revealed stiff competition between TV5 and RPN 9, which placed fourth at 2.7 percent.

?We?re grateful, but it?s too early to say that we are where we want to be,? TV5 chief executive officer Christopher Sy said on Saturday.

Sy said the network will continue to challenge industry norms by presenting novel programs.

But he admitted that it would take a while for TV5 to become a ?solid? third force. ?We need to be consistent,? Sy noted.

TV5 is the new brand name of ABC 5, which entered into a ?long-term block airtime agreement? with MPB Primedia Inc., local subsidiary of the Malaysian conglomerate Media Prima Berhad.

In a previous interview, ABC 5 head Tonyboy Cojuangco said the network aims to serve viewers aged 18 to 30.