​Media-Business segment finishes first nine months of 2019 with net profit of 2.19 billion rubles
29 November 2019

On November 29, Gazprombank revealed the financial results for the period January-September 2019, which show key indicators for Gazprom-Media Holding in the Media-Business segment.

The Media-Business segment got a net profit of 2,193 million rubles. The main influx into the net profit came from the Holding’s television business as well as its film distribution and production divisions.

The operating profit of the Media-Business segment was 1,382 million rubles. In 2019, Gazprom-Media Holding embarked on a process of digital transformation, which provides for an increase in money spent on the development and introduction of digital technologies. Moreover, the Holding is developing digital services and creates exclusive products, thus growing investments into production, promotion and distribution of content for digital environments at a fast rate.

Consolidated revenues of the Media-Business segment added up to 67,164 million rubles. Non-advertising revenues of the Media-Business segment increased by 11% to 18,106 million rubles due to a 31% increase in the revenues from the sale of rights to 10,342 million rubles. The growth in revenues from the sale of rights came from the distribution of special-interest sports channels and Red Media channels, Central Partnership’s movie distribution, as well as the sale of rights to NTV and Gazprom-Media Entertainment TV content.

Advertising revenues in the Media-Business segment added up to 49,058 million rubles. Separate TV channels of Gazprom-Media Holding grew their key indicators. Thus, advertising revenues for Friday! TV channel increased by 10%, and TV-3 channel by 4%.