Gazprombank’s media business segment saw its revenues grow by 5% to R24.9 billion (€317.6 million) in the first quarter.
This, according to a statement by Gazprom Media, was due to an increase in ad revenues on Gazprom Media Holding’s channels and an increase in revenues from the distribution of thematic channels and film distribution.
Operating income grew by 22% to R1.6 billion, with the main contribution being the TV and film business, and net profit amounted to R917 million.
Gazprom Media says that the media business’s ad revenues grew by 2% to R16.8 billion. This corresponded to the 2% increase in ad revenues for terrestrial TV channels as a whole in Russia recorded by the advertising association AKAR.
Meanwhile, non-ad revenues increased by 11% to R8.1 billion, with the main contribution being the sale of rights, which grew by 15% to R5 billion.
