Russia’s Gazprom-Media saw its revenues increase by 1.1% to reach R99.2 billion (€1.11 billion) in 2020.
This, according to the company, was due to an increase in advertising revenues for its on-air and thematic channels.
Ad revenues increased by 2% to R72.3 billion, whereas the TV ad market in Russia as a whole declined by 3% in 2020.
Meanwhile, revenues from the sale of audiovisual reproduction fell by 7% to R13.4 billion.
Gazprom-Media’s operating profit in 2020 was R1.8 billion, while consolidated expenses decreased by 5.3%. Its net loss was R5.5 billion.