The Russian language VOD service Megogo had revenues of R419.44 million (€4.64 million) in 2015, or 86% more than in the previous year.
At the same time, reports Telecom Daily, the number of users in Russia rose to 17.2 million.
Although Megogo introduced a universal subscription at the end of last year, advertising still accounted for around 89% of its income and increased by 66% in 2015. Furthermore, revenues from SVOD increased seven-fold and TVOD/EST five-fold thanks to an improved catalogue following agreements Megogo signed last year with the majors Paramount Pictures, Sony Pictures and 20th Century Fox.
Viktor Chernakov, Megogo’s DG, said that he expected significant revenue growth this year due to the tightening of anti-piracy legislation and a reduction in the volume of pirated content.
Megogo was launched in 2011 and is available in 15 post-Soviet countries.
