Online cinematers revenue grew against the background of price indexing
In 2024, the largest online cinemas increased revenue by 18–56%. The main income to the companies brought a signature model, as well as the sale of content rights. However, not all market participants in turnover growth leads to an increase in net profit, since the companies also have operating expenses and debt service costs – 30–70%.
“Kommersant” analyzed the financial indicators of the largest online cinemas for RAS, published on the state information resource of accounting (financial) reports in April. Kinopoisk increased revenue in 2024 by 51%, to 47.2 billion rubles. At the same time, the company’s net profit per year, on the contrary, decreased – by 12%, to 9.1 billion rubles. The main part of the revenue of Streaming brought the sale of rights to audiovisual content and a signature model – 41.9 billion rubles. A year earlier, this indicator was at 27.2 billion rubles. The company has almost doubled the proceeds from granting rights to content (licensing, the deadline for granting rights – from one year to eight years): from 1.8 billion rubles. In 2023, up to 3.6 billion rubles. In 2024.
In Kinopoisk, they insist that when analyzing the financial indicators of Yandex services, you should focus on IFRS reports, and not in RAS-in particular, due to the fact that the main part of the online cinema revenue brings access to several Yandex services at once. “According to TMT and Telecom Daily analytical companies, streaming revenues in 2024 increased by 40%, we consider this assessment correct,” the company notes.
In Ivi, revenue for a year increased by 38% and amounted to 22.9 billion rubles. with a net profit of up to 3.6 billion rubles. BOThe legend of the revenue of the online cinema, like that of KinoPoisk, fell on services for the provision of paid services (subscriptions)-18.1 billion rubles, a year earlier this indicator amounted to 12.5 billion rubles. Revenues from the sale of rights to content were brought by IVI in 2024 2.6 billion rubles. Against almost 2 billion rubles. in 2023. Revenue from the provision of services for the placement of information and advertising materials on the IVI.RU service amounted to 2.2 billion rubles, a year earlier-2.1 billion rubles. Streaming refused to comment.
The revenue of the Kion online cinema (included in MTS) over the past year increased by 56% and reached 11.4 billion rubles. In case of net profit of 1.6 billion. In the explanation to the financial reporting of Streaming, it is stated that in February and October last year, the company entered into a loan with a company that indirectly controls the LLC (with a share of 1% participation in Kion LLC, according to Spark-Interfax, until March 14 was the owner of MTS PJSC, it was subsequently replaced MTS « ). The amount of two loans – about 4.8 billion rubles, interest rate – a key plus 2% per annum. The maturity of the first loan was scheduled for December 31, 2026, the second – on October 15, 2027. Kion refused to comment.
Start in 2024 increased revenue by 18.4%, to 6.1 billion rubles. With a pure loss of 162.3 million rubles. In 2023, the net profit of the service amounted to 306 million rubles. The representative of the online cinema has clarified that the main part of the revenue is income from the subscription: “The growth of the indicator is associated with an increase in the cost of subscription, as well as an increase in the number of paid subscriptions”. The decrease in the profit was influenced by the significant increase in the main costs, first of all, an increase in the costs of content and marketing, as well as the growth of the wage fund, is certified in Start. Reporting online cinemas Okko, Premier and Wink have not yet been published.
The main drivers of the growth of the revenue of online cinemas are indexing the prices of their services, as well as an increase in the number of subscribers and customers, according to the main analyst of the Regblock Anna Avakimyan: “If the increase in the customer base of cinemas in 2024 can hardly be considered extraordinary, then the price index and media inflation last year compiled at least 25–35%. » Last year, Ms. Avakimyan calls the indicators of the net profit of companies unstable due to the growth of operating expenses and a significant increase in debt service costs-from 30% to 70%, depending on the company. As a result, the influx of new customers cannot compensate for the increase in costs, since the market growth potential excluding media inflation is already limited by 10–20% per year, she said.
