Russia’s Gazprom-Media saw its revenues grow by 3% to R98.1 billion (€1.16 billion) in 2019.
At the same time, according to its owner Gazprombank’s latest set of results, its adjusted net loss amounted to R3.8 billion.
Gazprom-Media’s non-advertising revenues grew by 23% to R27.3 billion, while advertising revenues fell by 3% to R70.8 billion.
The latter figure compared well to the Russian TV ad market as a whole, which AKAR says fell by 6% in 2019, and individual channels saw ad revenue growth. Pyatnitsa’s, for instance, increased by 12.4% and TV-3’s by 6%.
Non-advertising revenues grew thanks mainly to the sale of rights and the distribution of Gazprom-Media content in various media environments.
As previously reported by Broadband TV News, Gazprom-Media’s OTT service Premier ended this January with 1.6 million subscribers, or twice as many as a year earlier.