Russia is one of the most attractive TV markets globally, which has particularly boosted the fortunes of broadcaster CTC Media, according to analysts Morgan Stanley.
The investment bank has noted that investing in CTC, which operates two channels CTC and Domashny, is an excellent way for investors to gain exposure to a recovery in Russian consumer spending.
“We forecast Russia to be at the forefront of the economic recovery in Europe. We see TV as the sole media to capture national audiences in a cost effective way for advertisers who increased their weighting to TV from 56% to 60% through the recession,” it noted. “Stronger than expected demand bodes well for advertising negotiations into 2011. We upgrade our forecast for TV advertising growth from +12% to +18% in 2011.”