Russia’s CTC Media, which is backed by Modern Times Group (MTG), fared better than most other broadcasters in the country last year.
Results published by the company show that total operating revenues for the year were, at $506,113,000 (€371,146,000), 20.9% down in dollar terms. This reflected the year-on-year decline in the ad market, as well as the weakening of CTC Media’s principal operating currency (rouble) against the reporting currency (dollar).
However, CTC Media’s Russian ad sales, which accounted for 94% of Q4 and full year revenues, were 2% up year-on-year in Q4 and only 3% down for the full year in rouble terms. This compared with an estimated 12% decline in the Russian TV ad market year-on-year in Q4 of 12% and 18% for the full year.
CTC Media’s OIBDA rose by 244.7% to $163,929,000 in 2009, while its net income went up by 347.1% to $100,389,000.
CTC Media operates four networks in Russia, and of these all but one (Channel 31) had higher viewing shares in 2009 than a year earlier.