The Russian national commercial broadcaster CTC Media has announced that it is developing its licensing business.

Licensing is aimed at diversifying its sources of income, and CTC Media plans for it in time to reach the level of 3-5% seen at the world’s largest TV holdings.

Next year, annual sales of licensed products at retail prices are expected to total between $10 million and $15 million.

Yuliana Slashcheva, CEO of CTC Media, said: “When establishing this business, we drew on the expertise of the developed markets, particularly the EU and the United States; we also took into account the distinctive features of Russia. The Holding Company formed a team of professionals which supports the entire cycle of licensing activities: sale, design of products and promotional materials and subsequent support to a Licensee. We believe that the success of our brands can help our partners to succeed as well.”

Ksenia Gordienko, director for licensing products of CTC Media, added: “The licensing business offers great opportunities for the development of our partners’ business. We will continuously present our new license projects and proposals to the market, including at the annual CTC Media Licensing Summit”.