CTC Reports Q2 Gains

MOSCOW, July 29: Russian
broadcasting group CTC Media has reported second-quarter consolidated revenues
of $172.8 million, reflecting a 54.1-percent gain, posting a profit of $48.8
million, which was 59.1-percent higher than the year-ago period.

For the first six months
of the year, meanwhile, revenues gained 43.1 percent to $309.5 million and
profit was up 53.9 percent to $90.5 million.

Alexander Rodnyansky, the current CEO and president (Anton Kudryashov
takes over as CEO next month), noted: "Our results for the quarter include
the financial and operating performance of all recently acquired businesses and
reflect the successful execution of our growth strategy in Russia and the CIS.
In the second quarter, our flagship CTC channel once again proved its ability
to connect with Russian viewers in the highly competitive environment of the
Russian television market. CTC increased its target demographic audience share,
which was effectively monetized in the quarter. As we approach the fall season,
we expect to benefit from CTC’s competitive programming schedule, which is
anchored by our established formats and brands.”

Rodnyansky added that more
than 25 percent of CTC’s fall schedule is being produced in house. Highlights
of the upcoming season include My Fair Nanny, The Cadets, Ranetki and Daddy's
Girls. CTC had an average audience
share of 11.6 percent in the quarter. For the female-targeted Domashny, the
market share was 2.7 percent.

—By Mansha Daswani