The Russian commercial broadcaster CTC Media has posted revenues of $165.5 million (€111.5 million) for the first quarter, up 16% year-on-year in rouble terms on a comparable basis and 32% in rouble terms.
Its Russian advertising revenues were meanwhile up 20% year-on-year in rouble terms on a comparable basis and OIBDA rose by 1% year-on-year in US dollar terms.
Commenting on the results, CTC Media CEO Anton Kudryashov said the broadcaster expects 20% revenue growth for the year as a whole in rouble terms on a comparable basis.
CTC Media changed its ad sale structure and hence accounting procedure at the beginning of this year, with Video International no longer being responsible for sales, which are now all done in house.
In a separate development, CTC Media has appointed Dmitry Troitsky as the general director of DTV Channel.
Troitsky was the general producer at TNT Television Network for seven years and has acted as an advisor to CTC Media’s CEO since December 2010.