Russia’s Gazprom-Media reduced its net losses from R28.3 billion (€401.2 million) in 2016 to R3.4 billion last year, according to the latest annual report of its main shareholder Gazprombank.
Russia’s Gazprom-Media is planning to launch its own on demand service.
Russia’s Gazprom Media’s revenues in the first half of this year amounted to R40.6 billion (€580.2 million), or 6% more than for the same period last year.
Gazprom Media has decided to pull out of a project that has previously been described as a “Russian Hulu”.
Ren TV and Pyatnitsa were the star performers in Russia’s TV industry in 2016, with both growing their revenues by around 20%.
Gazprom Media and Roman Petrenko, a former director of the Russian TV station TNT, have launched two TV production companies in the US.
The Russian broadcaster TNT has decided to focus its efforts on expanding internationally.
Gazprom Media has reached an agreement with Dailymotion, the online video service owned by Vivendi that was permanently blocked in Russia in January this year.
Russia’s Gazprom Media has posted net profits of R379 million (€5.2 million) for the first quarter, bouncing back from a loss of R1.708 billion in the same period last year.
The Gazprom Media-owned channel TV3 is looking for OTT platforms to co-invest in content production.