The media business segment of Russia’s Gazprombank saw its revenues grow by 14% to R46,323 million (€581.8 million) in the first half of this year.
Ad revenues in the segment increased by 16% to reach R35,365 million and non-ad revenues by 9% to R10,958 million. At the same time, according to figures published by the Association of Communication Agencies of Russia (AKAR), the TV ad market as a whole grew by 13% in the first half of this year.
Gazprom-Media, which is part of Gazprombank’s media business segment, notes that the growth in ad revenues in the segment was influenced by the effective sale of commercials on its FTA and thematic channels. In addition, 2018 is saturated with major sporting events, which positively affect the interest of advertisers in sports media.
Gazprom-Media also says that the growth of non-ad revenues in H1 was due to a 19% increase in the sale of rights for the distribution of its paid thematic channels, as well as the sale of rights to the NTV media library and thematic channels.
The media business segment saw its operating profit increase by 76.7% to R3,686 million in H1, driven by Match and NTV, which reached operating profit, and the sports segment in general.
Net profit in H1 amounted to R4,190 million, compared to a net loss of R634 million a year earlier.