The cumulative revenue figure for the three largest television stations in Russia (Channel One, VGTRK, and NTV) decreased by 22 percent in 2009. The total figure was down to RUR 52.4 billion, compared to RUR 66.8 billion in 2008.

Channel One has fared better than its two counterparts, with revenues declining only 11.5 percent under Russian accounting standards. Channel One’s revenues were RUR 24.87 billion, and the company’s net profit was down to almost one half of the 2008 figure – some RUR 3.6 billion.

The revenue of VKTRK went down by a whole 24 percent to RUR 18.57 billion. The company registered an operating loss of RUR 5 billion. The company still showed a larger net profit in 2009 than in 2008 – RUR 6.95 billion against RUR 5.14 billion. 

The NTV network, which had the largest profit in 2008, experienced a decline in profits of more than 67 percent to RUR 1.57 billion. In 2008, the company’s profit was RUR 5.12 billion. NTV’s revenues in 2009 were down 32 percent to RUR 11.86 billion from 17.46 billion in 2010.  

Another major player on the Russian broadcasting market CTC Media experienced a 20.9-percent decline in revenues to RUR 16 billion. The company has reported a profit of USD 100 million.

Russian business consulting companies have estimated that the advertising market, which generates most of the revenue for television broadcasters, decreased by 18 percent to RUR 113.7 billion in 2009.

Channel One began broadcasting in 1995, taking over the programming previously run by state-owned Ostankino, which began broadcasting in 1991. VGTRK was formed by the resolution of the Supreme Council of the Russian Federation in July 1990. The company broadcasts on channels Rossiya 1, Rossiya 2, and Kultura, as well as radio stations Mayak and Radio Rossiya. The NTV network, which was formed in 1993, belongs to Gazprom-Media.