​Net profit of Gazprombank’s Media-Business segment grew six times to 5.9 billion rubles between January-September 2018

On November 29, Gazprombank published its financial results for the period between January and September 2018. The report, which follows International Financial Reporting Standards (IFRS), cited the key indicators of Gazprombank’s Media-Business segment.

Consolidated revenues of the Media-Business segment, in which Gazprom-Media Holding is represented, grew by 11% and reached 67,696 million rubles over the first nine months of 2018. The advertising revenues of the Media-Business segment increased by 14% to 51,425 million rubles.

Consolidated advertising revenues of the Holding are growing due to the growth in advertising sales on Gazprom-Media’s mainstream and special-interest channels.

In the first nine months of 2018, the operating profit of the Media-Business segment increased by 86% to 4,915 million rubles. This growth arose from the increase in advertising revenue, as well as effective control over costs.

The net profit of the Media-Business segment also grew six times to reach 5,918 million rubles in the first nine months of 2018. The Holding’s television business makes a great contribution to its net profit, while the sports business of GPM Match reached net profit ahead of schedule. The sports business is profitable thanks to the growth of advertising revenue, revenues from the distribution of paid sports channels and the production of sports broadcasts.

Non-advertising revenues

Gazprom-Media is constantly cultivating additional sources of income, including paid distribution of television channels and media content.

As such, revenues from the sale of software rights increased by 16% in the first nine months of 2018. Revenues from broadcasting services increased by 9% due to the expanded sales of broadcasting rights for Match TV, TNT and NTV to pay-TV operators.

Gazprom-Media also launched a new premium football channel, Match Premier, in the third quarter of 2018. In its first month of operation, the channel’s subscriber base grew by 24%. The TNT-PREMIER OTT-platform was launched in August 2018. The OTT-platform gives access to TV series premieres as well as content from the entertainment TV channels TNT, TV-3, TNT4, 2x2 and Super. As of today, there were 6.1 million unique visitors to the TNT-PREMIER site and 2.1 million users have installed the TNT-PREMIER application. The app’s content has 37 million views.