Russia’s Gazprom Media’s revenues in the first half of this year amounted to R40.6 billion (€580.2 million), or 6% more than for the same period last year.
At the same time, reports Kommersant, quoting a statement by Gazprombank, its expenses were R38.53 billion, while the operating profit of R2.09 billion contrasted with a loss of R1.22 billion in H1 2016.
Gazprom Media’s revenues were boosted by ad revenues from the entertainment channels TNT, TV-3, Pyatnisa, TNT4 and 2×2, as well as the sports channel Match TV; distribution of thematic channels; and sports broadcasting organisation by Gazprom.
TV advertising accounted for the lion’s share of the company’s revenues in the first half.
However, it grew more slowly than previously due to a new sales structure: rather than use its own sales house, Gazprom Media employs one for direct sales that it jointly owns with VGTRK, First Channel and the National Media Group (NMG).
As previously reported by Broadband TV News, the TV ad market in Russia in H1 was worth R80 billion.