PRESS: Online cinema Okko’s revenue jumps 96% to 5 bln rbl in 2019

MOSCOW, Jan 21 (PRIME) -- Russian online cinema Okko, a unit of media holding Rambler Group, increased revenue by 96% to 4.9 billion rubles in 2019, value-added tax included, with the number of paying audience reaching 1.1 million per month, business daily Kommersant reported on Tuesday.

Okko’s total monthly audience rose to 2.8 million people by the end of 2019 from 1.5 million a year earlier.

The online cinema said the revenue growth was driven by web and Android platforms in 2019, and mobile devices performed better.

Analysts said Okko exceeded the market in 2019. Researcher Telecom Daily’s General Director Denis Kuskov said revenue grew more in the second half of the year: Okko earned 2.5 billion rubles in July–December 2019 in comparison to 1.5 billion rubles in January–June 2019, value-added tax excluded.

Head of the TV department at researcher J’son & Partners Consulting Dmitry Kolesov said “the key growth factor” in Okko’s turnover was a deal between Rambler Group and Sberbank, the country’s top lender, which acquired 46.5% of the media holding in August 2019 for 11 billion rubles.

(61.4654 rubles – U.S. $1)

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