Russia’s TV ad revenues in the first quarter were 22% lower in the same period last year, according to the heads of Vi and Gazprom-Media, the two biggest sales houses.

However, reports Vedomosti, the figure was better than the previously forecast fall of between 25-30%.

What is more, it is now expected to fall by 20% in the first half of this year, confounding earlier, more pessimistic predictions.

Vi and Gazprom-Media between them account for over 60% of TV ad sales in Russia.