Russia’s Gazprom Media saw its overall revenues in Q3 grow, though those for its TV channel business continued to fall.
Vedomosti reports that the company’s revenues in Q3 amounted to R18 billion (€238 million), which was 8.3% more than in the same period in 2014.
This was the first time in 2015 that its revenues actually grew, with reductions of 11% and 6% been posted in Q1 and Q2 respectively.
Taking all this in account, its revenues for the first nine months of the year were 3.1% down on the corresponding period in 2014.
Although Gazprom Media has performed better than the market as a whole so far this year, TV ad channel revenues, which account for around 80% of the company’s total income, continued to fall.
In the TV sector, Gazprom Media currently operates six main channels – NTV, TNT, TV3, Pyatnitsa, 2×2 and Match TV – along with the DTH platform NTV-Plus and its non-terrestrial channels.
The entertainment channels, in particular Pyatnitsa, have performed well in terms of revenues.