Tough times for CTC Media

By Chris Dziadul

Russia’s CTC Media has reported disappointing results for the first quarter, its total operating revenues falling 23.4% year-on-year to $104,778,000 (€78,514,329).

At the same time, its OIBDA was 29.1% lower at $33,164,000. Although CTC Media’s TV main interests CTC Network and Domashny Network saw year-on-year falls in revenue of 27.9% and 31.7% respectively, their average audience shares were little changed.

In the case of CTC Network, the 11.4% amongst viewers aged 6-54 in Q1 2009 was identical to that 12 months earlier, while for Domashny Network, targeting women aged 25-60, it was down from 2.9% to 2.6%.

That for DTV Network, currently aimed at viewers aged 25-54, meanwhile fell from 2.3% to 2.2%.

CTC lists MTG as its largest (39%) shareholder.