Gazprom-Media media holding is now in the list of Russian companies to apply sectoral sanctions by US government.
This was reported by RNS news agency with reference to the US Treasury Department.
The number of Russian companies which were also included in this list was about 100. It is interesting to note that a few dozen of them are Gazprom’s subsidiaries.
The press service of the Russian media holding stated that they see no risks for their operation because of the inclusion in the sanctions list. This media holding has already got under similar sanctions because it is one of the Gazprombank structures. At the moment, there are no new circumstances which could affect the work of the holding:
“The only thing that has changed – Gazprom-Media was named. We are sure that this acknowledgment by the US Treasury Department will affect the brand recognition and increase the penetration of our channels broadcasting to foreign audiences” – they said in the press-service.
In addition, as Sostav.ru writes, income of Gazprom-Media in the first six months of 2016 grew faster than the television advertising market. Revenue of the media holding from media business has increased by 24 % to RUR 38.5 billion.
But the net loss of Gazprom-Media has increased five-fold from RUR 1.9 to RUR 9.13 billion. Operating losses increased from RUR 525 million in the last year to RUR 1.2 billion this year. But Irina Osadchaia, the representative of Gazprom-media, says that the amount of the operating loss is RUR 220 million:
“In fact, we have worked almost to zero. Holding bears big planned costs for the launch of “Match”. We have also invested big amounts in content to restart NTV”.
But in media holding they believe that of the net loss increasing is due to making reserves for the cases of assets depreciation and other threats. Also this loss could appear due to the recent purchase of 7.5 % share in the National Media Group (NMG) by Gazprom-media for RUR 11.2 billion.
Presumably, revenue growth was provided by entertaining TV channels of the media holding, as well as revenue from Match TV was added to the company’s revenues, and Central Partnership film company has shown positive financial results of film distribution. Part of non-advertising revenues increased by 4 % (from 21 % to 25 %). It is likely to be provided by Red Media thematic channels broadcasting.
Also, Gazprom-Media has increased payments on credit obligations taken in 2014 for the purchase of Prof-Media Holding (“Friday”, TV-3, “2×2”, PS and other assets). In the first six months of 2015 the amount was RUR 1.6 billion, and this year it is RUR 2.4 billion.
