Revenue up 19% to $601.2 million
LONDON — Russia’s top commercial broadcaster CTC Media notched up a record year in 2010 with growth in profits, revenue and share of the advertising market, the company said Tuesday.
Revenue in dollar terms was up $104 million on the previous year, a 19% increase from $506.1 million to $601.2 million, and profits up 5% from $211.2 million to $220.8 million.
Advertising market share grew 13% year on year.
CEO Anton Kudryashov said: “2010 was a record year for CTC Media — growth in rouble terms is already above that achieved before the financial crisis of 2008.”
Revenue and profits increased on the back of a recovery in the Russian TV advertising market, with prices growing strongly in the fourth quarter of 2010, he added.
CTC Media runs three free-to-air television networks in Russia, CTC, Domashny and DTV, Channel 31 in Kazakhstan, and channels in Uzbekistan and Moldova, broadcasting to a total audience of more than 150 million viewers.
It also owns TV production companies Costafilm and Soho Media.