Russia’s leading broadcaster Channel One managed to reduce its losses 10-fold in 2015.
According to Jourdom and Vedomosti, they amounted to R92.3 million (€1.2 million), as opposed to R938.4 million in 2014, with the improved performance being down to state help and the sale of shares in the Ukrainian broadcaster Inter.
The former amounted to additional subsidies totaling R3.5 billion, while the latter saw the sale of a 29% sale to Dmitry Firtash and Serhiy Lyovochkin for $100 million.
Meanwhile, Channel One’s revenues in 2014 fell by 12% to R26.5 billion.
Most of those revenues came from advertising, which excluding sponsorship was 15.6% down on the previous year.
Channel One’s audience share in its target group (aged 14-59) in 2015 was 12.6%, down from the previous year’s 13.6%.
