Tricolor TV sees revenue growth slow to 20% in 2016
MOSCOW. Feb 8 (Interfax) - National Satellite Company, which operates under the Tricolor TV brand, increased revenue by 20.5% to 17.9 billion rubles in 2016, the company reported.
The company's revenue growth slowed by more than half from 42.7% in 2015, when revenue rose to 14.85 billion rubles. Telecom Daily reported earlier that Russia's pay TV market grew by 7% to 72.1 billion rubles in 2016.
Tricolor TV does not disclose its margin and profit figures. Tricolor TV CEO Alexei Kholodov said that the company has been profitable since 2008 and that profit in 2016 increased compared to 2015. The company earned a net profit of 3.45 billion rubles to Russian Accounting Standards in 2015, according to the SPARK-Interfax database.
Kholodov declined to make forecasts for 2017.
Tricolor connected 760,000 new households in 2016 and had 12.14 million subscribers at the end of December, 2.9% more than a year earlier. This included 8.5 million subscribers, or 70%, who use HDTV services.
Tricolor's average revenue per user (ARPU) was up 13.7% to 1,495 rubles in 2016. The company had 401 sales offices at the end of the year.