Russian broadcaster CTC Media has posted a 15% rise in third quarter revenues as a result of a booming advertising market.
The company, which operates three national networks including CTC, Domashny and DTV, recorded total revenues of US$125.3 million (89.7 million) compared to US$106.9 million last year. This comes as it Russian advertising revenues increased 11% year-on-year.
“We have continued to benefit from the growth in the Russian TV advertising market with a fully sold-out position and 15% year-on-year growth in total operating revenues in ruble terms in the third quarter. The regional TV advertising market has also started to grow again following the financial crisis,” said Anton Kudryashov, chief executive, CTC Media.
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