Russia’s Gazprom-Media had a net profit of R2 billion (€23 million) in the second quarter, as opposed to a net loss of R2.2 billion in the same period last year.
Its consolidated revenues grew by 61% to R28.7 billion due to growth in ad revenues and revenues from e sale of rights to audio and video reproduction. Ad revenues increased by 53% and reached R20.9 billion due to growth in on-air and thematic TV channels. Meanwhile, the share of Gazprom-Media’s TV channels in the commercially attractive 14-44 age group increased over the year from 25.7% to 26.4%.
Revenues from the sale of rights to audio and video playback doubled to R 4.5 billion from R 2.2 billion in Q2 2020. The key growth factor is the partial recovery of film distribution, which was completely absent in Q2 2020.
Gazprom-Media’s net profit in the first half of this year amounted R5.7 billion, compared to a net loss of R1.3 billion in the same period in 2020.