Russia’s CTC Media had total revenues of $832.1 million (€604.3 million) in 2013, a 7% increase in ruble terms on a year earlier.
Ad revenues also rose by 7%, to $806.5 million, in ruble terms, while adjusted OIBDA increased by 10%, also in ruble terms, to $270.7 million.
CTC Media expects to pay the Russian Television and Radio Network (RTRS) a total of around $25 million for the digital distribution of its CTC and Domashny channels in 2014.
However, this will depend on multiplex infrastructure rollout, and once this is complete it will be charged up to $26 million annually for the distribution of each channel on the second multiplex.
CTC Media also says it will continue to invest in content this year but anticipates that its programming expenses will grow by less than its total revenues and at lower pace than in 2013.
Commenting on the results, Yuliana Slashcheva, CTC Media’s CEO, said: “We have made significant progress in 2013. CTC Media has delivered a solid performance, and I am particularly proud of the far-reaching improvements that we have made in several key areas such as programming, content development and digital expansion.”
