The leading Russian OTT service ivi is projected to have revenues of over R3 billion (€42.6 million) this year.
Comnews reports that its revenues in 2017 amounted to R2.43 billion, or R0.86 billion more than in 2016. The paid model accounted for R1.48 billion (61%) of the total and was R0.61 billion higher than a year earlier. Key drivers were growth in Russia’s smart TV market and a clampdown on piracy.
Meanwhile, ad revenues amounted to R1.5 billion in 2017 and will be boosted this year by the partnership with GPMD and the creation of the Smart network. Ivi’s average monthly audience grew by 45% in 2017 and reached 40 million in December. The number of ivi paid users stood at over 500,000 as of December, or 136% more than a year earlier.
Quoting TMT Consulting, Comnews says that ivi currently accounts for 34% of Russia’s online video market. The latter includes OTT, VOD and streaming broadcast services, though not app stores such as iTunes and Google Play. Okko, its closest competitor, claims a 17% share.
