Sistema Mass Media’s pay TV offering Stream-TV increased its subscriber base by 21% last year to 7.5 million subscribers, according to the Russian media firm’s latest earnings report.
According to its full-year 2012 numbers, the 7.5 million figure includes 1.5 million subscriber households in the Commonwealth of Independent States, with the rise attributed in part to organic growth.
Revenue at Stream-TV decreased 5.1% during the year to US$18.8 million, as a result of changes to the currency market, but remained stable in ruble terms, Sistema said.
Profits climbed from US$1.7 million in 2011 to US$7.0 million in 2012, while operating income before depreciation and amortisation increased 62% year-on-year to US$10.2 million. This was due to growth in high-margin content distribution, Stream-TV’s subscriber base growth and cost optimisation, Sistema said.
Stream-TV is one of the leading producers of pay-TV channels in Russia, with nine in-house channels.