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Yandex becomes Russia's biggest media company

0 10 April 2014

Yandex took over from Channel 1 (Pyervy Kanal) as Russia’s biggest media organisation in 2013. The internet company’s total annual revenue was 35.7 billion rubles (≈$1 billion), compared to the TV company’s 29.6 billion rubles (≈$845 million). 

A spokesperson for Yandex, which gets 90% of its income from contextual advertising, commented that 

“We do not compete directly with Channel 1 for advertising revenue, as we occupy different niches. TV allows advertisers to achieve the widest audience, while internet allows them to target people likely to be interested in the product or service offered.” 

In November 2013 (the most recent month for which data is available) Channel 1 had the bigger daily audience with 21.8 million viewers, compared to the 20 million individuals that use Yandex on any given day.

While audience and revenue of the two media companies are comparable, their profit figures for 2013 are very different. Yandex profits grew by 64% to $383 million in 2013, while Channel 1 made a $29 million loss. 

Source: Roem

Top image via Shutterstock

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