Media & Entertainment
"I have some experience as a media owner. I think we can all easily agree that the last thing an owner should do is to get into editorial policy".
1997 - 2013
ProfMedia is one of the largest groups with leadership positions in entertainment media in Russia. ProfMedia offers premium services to target audiences in all key market segments. Well-known brands under ProfMedia’s management include: TV3, Pyatnitsa! and 2x2 in the television segment; Autoradio, ENERGY, Radio Romantika and Humor FM in the radio segment; Central Partnership in the film production and distribution segment.
ProfMedia TV is the business unit of ProfMedia in charge of television. Its assets include: TV 3, offering entertainment and family programming, 2x2, an animation and cartoon channel, and Pyatnitsa!, an uplifting entertainment channel.
VKPM, ProfMedia Broadcasting Corporation is in charge of radio stations. Its assets include: Autoradio, one of the three largest regional networks, broadcasting in over 300 cities in Russia, as well as in Moldova, Ukraine, Mongolia, Armenia, Kyrgyzstan and Israel; Humor FM, broadcasting in over 50 cities in Russia, Ukraine, Kyrgyz Republic, Latvia and Transdnestria; Radio ENERGY (NRJ), a joint venture with the French NRJ Group; Radio Romantika; and 101.ru, an online broadcaster.
Central Partnership is Russia’s leading TV series and film production and distribution company. The company owns the rights to more than 1400 films and 3000 hours of TV series. It has been actively promoting its productions in foreign markets.
ProfMedia Holding acquires a controlling stake in Komsomolskaya Pravda and Izvestia, and a blocking minority share in Expert magazine. The holding launches Russian Telegraph, a newspaper for quality social and political news.
In the wake of the 1998 financial crisis, ProfMedia takes a number of steps that are necessary under the circumstances. The Russian Telegraph is dissolved, and its editorial board is merged with Izvestia. All of the Holding's other print media emerge from the crisis with virtually no losses.
The holding’s efficiency helps it climb to first place among Russia’s ten largest print media companies in as early as 1999.
ProfMedia acquires Autoradio, a leading radio station on Moscow FM.
The holding decides to try out a new broadcasting format and creates the News Online news radio station. The goal of the station is to pack the most news reports into the least amount of time in a fast-paced radio show format, allowing listeners to “get all the news in 10-15 minutes.” A year later, however, when the radio station fails to get high ratings, ProfMedia decides to change the format and include more entertainment. Radio Disco, known for its Losing Weight on Radio Disco ad campaign, begins broadcasting over News Online’s frequency, and a few years later is replaced by the famous Humor FM station.
The launch of Cinema Park, the first nationwide next-generation multiplex cinema chain, signals that film has become a priority area for ProfMedia.
Radio Energy FM, a second Moscow radio station, is launched. VKPM – the ProfMedia Broadcasting Corporation - is founded the same year to increase management effectiveness of the growing radio business ventures.
ProfMedia Publishing House sells 41.2% of Expert magazine shares to the publication’s executive team. The editorial board now owns a 100% stake in the company. A leading nationwide publication is fully owned by its staff for the first time in Russian history. ProfMedia also sells a 35% stake in the Independent Media Publishing House to Dirk Sauer, the company’s CEO, and to other founders of Independent Media, who now have complete control over the publishing house.
The same year, Interros creates Business Media Communications (later renamed B2B Media in August 2006), a company that publishes magazines on finance, advertisement, marketing, management and HR. The company also manages online resources: Admarket.ru, a web portal with information and analytics on the advertising market, media and marketing; E-xecutive.ru, a popular community resource for professional managers; and HRM.ru, the largest information space on human resource management.
Cinema Park opens Kaluzhsky Cinema Park, the first multifunctional multiplex movie theater in Moscow and the most state-of-the-art movie theater in Russia.
Komsomolskaya Pravda, Sovetsky Sport and Express newspapers, all owned by ProfMedia holding, are merged into a single Komsomolskaya Pravda Publishing House, the largest newspaper in the country by revenue and audience reach. The holding sells 50.19% of Izvestia to Gazprom-Media Holding the same year.
In September, ProfMedia Broadcasting Corporation launches the Humor FM radio station.
ProfMedia acquires a controlling stake in Central Partnership, a diversified film production company operating in Russia since 1997 that has become a leader in TV series and film production, as well as movie theater and television film distribution.
IFC, International Finance Corporation, offers ProfMedia a $20 mln loan to build a nationwide chain of multiplex movie theaters under the Cinema Park brand. Total investment amounts to $128 mln.
Early in the year, ProfMedia acquires the TV channel 2x2, to be repositioned in April of the following year to broadcast animation 24/7 to a target audience of 11- to 34-year-olds. In the fall of 2006, the holding acquires TV3, a leading nationwide private for-profit TV network.
Radio Alla, ProfMedia Broadcasting Corporation's fourth radio station, hits the airwaves in the beginning of the year. Radio ENERGY FM secures official permission to use the globally famous NRJ brand owned by the NRJ media group from France.
ProfMedia acquires Afisha Publishing House, the leisure and entertainment information market leader, which publishes Afisha - All Entertainment in Moscow, Afisha - All Entertainment in Saint-Petersburg, Afisha - All Entertainment in the Universe, Afisha World, Afisha Food, Big City, and a number of guide books, and owns the websites Afisha.ru, BG.ru, and Afisha-Mir.ru, among others.
The holding also acquires a 54.8% stake in Rambler Media, the largest diversified company on the Russian internet, offering entertainment resources, online services, and content delivery services. The company targets its services at the worldwide community of 300 mln Russian-speaking internet users.
ProfMedia Holding sells the Komsomolskaya Pravda Publishing House as part of its strategy to move fully into the entertainment market segment.
ProfMedia acquires the MTV Russia and VH1 Russia music channels for around $360 mln.
ProfMedia Holding sells B2B Media at the end of the year.
ProfMedia delists Rambler-Media on the London Stock Exchange. By the end of the year, the Holding has accumulated 88% of the company’s shares as a way for ProfMedia to consolidate all of its assets as it considers various strategic options including an IPO, M&A and others.
Radio ENERGY and Humor FM radio stations of the ProfMedia Broadcasting Corporation receive the Brand of the Year/Effie 2008 Award, the highest professional branding award in Russia. They win in the mass media category.
By year-end Cinema Park has approximately 200 movie screens in Russia.
ProfMedia Holding decides to consolidate its internet assets on a single digital platform. Afisha is merged into Rambler Media to create a single entity under the Holding’s ownership.
Interros merges ProfMedia’s television channels TV3, 2x2 and MTV Russia into ProfMedia TV, a single television holding.
ProfMedia Broadcasing Corporation’s radio stations continue to lead on the Moscow airwaves. According to TNS data for October-December 2012, Autoradio, Humor FM, and Radio ENERGY are in the top ten Moscow radio stations among everyday listeners over 12 years of age. TNS rates Autoradio as the most popular radio station.
Society for News Design (SND) recognizes Lenta.ru’s new design as one of the best in the world among news sites.
Interros and the A&NN Investment Group announce that the Afisha Rambler-SUP Media merger has been completed. The new company, Afisha-Rambler-SUP, is the biggest media holding with the largest audience on the Russian internet, with a combined no-overlap audience of 37.2 mln people.
The sales deal under which ProfMedia’s media assets in television, radio, and film production are transferred to Gazprom-Media Holding is finalized.
2002 - 2014
Cinema Park is nationwide chain of 3D movie theaters. Founded by Interros in 2002, the company opened its first theater in Moscow in 2004. Today Cinema Park is #1 movie theater chain, where each multiplex strives to become a gold standard in entertainment and leisure.
The first 4D movie theater in Russia was opened in 2013, and the company plans to open 19 more before 2017.
The IMAX viewing experience will also be coming to 14 cities in Russia over the next few years.
In November 2014 the chain was purchased by an independent investment group at a market price.
Leading positions on the Russian film distribution market:
- number of screens
- number of 3D screening rooms
- number of IMAX auditoriums
- number of multiplex theaters
- number of seats
- number of floating screens
- number of first screenings
- quality of products and services
- innovative technologies in film distribution
- number of ISO 9001-certified movie theaters
Interros establishes Cine Park. The key aspect of the project is that it will be a chain of brand-new high-tech multiplex movie theaters with no fewer than six screens each. All theaters will be built from scratch, rather than refurbishing existing obsolete movie theaters.
Total planned investment in the construction and promotion of 20 multiplex theaters with six to twelve screens each is more than $100 mln over the next seven years. Five or six multiplex theaters will be built in Moscow, three or four in Saint Petersburg, and one each in cities with more than one million inhabitants.
The first Cinema Park multiplex opens near Kaluzhskaya Metro Station.
In 2005 Cinema Park breaks into the Saint Petersburg market, where over the next two years it will open two multiplex theaters. The project will require a $14 mln investment. The company’s strategy is to squeeze smaller players out of the market and gain a 20% market share in Saint Petersburg.
Cinema Park installs the first digital projector in Russia, upping the game in the move to digital film distribution technologies.
The first Cinema Park theater in Siberia opens in Novosibirsk.
According to Nevafilm Research, as of December 1, 2007 there are 640 movie theaters with 1476 screening rooms in Russia. Cinema Park, with its seven theaters and 57 screening rooms, is the third largest player on the market, with a 3.9% market share.
In 2008 approximately 6 mln people went to see movies in Cinema Park multiplex movie theaters, including viewers in Perm, Novosibirsk, Ufa, Volgograd, and Nizhniy Novgorod.
Cinema Park, a nationwide theater chain, is the first to publish real-time box office receipts data, including the number of screenings, the number of viewers, and box office receipts for each film.
Seven new multiplex theaters push Cinema Park beyond 100 screens and into second place among theater chains nationwide by number of screening rooms. Cinema Park now owns 117 screening rooms in 14 movie theaters in Russia’s ten largest cities.
Cinema Park signs a general partnership agreement with IMAX CORPORATION to open new IMAX theaters in 14 Russian cities.
The chain now has 133 screening rooms and 50 3D screens. 12 mln people saw movies at Cinema Park theaters in 2010, bringing the company’s revenues to $120 mln.
Cinema Park acquires the Kinostar de Luxe theater chain and integrates it fully by year’s end.
The company signs an agreement to install an additional 8 IMAX systems.
Cinema Park signs an agreement with CJ 4DPLEX Co. Ltd. to build 19 4DX screens within the next 5 years.
After 4 4DX halls opened in Moscow and Nizhniy Novgorod the chain signs a contract to reinforce over 200 screening rooms in 18 cities thus completing migration to digital film distribution.
Cinema Park and RealD, a leading worldwide supplier of 3D technology, open the world’s first LUXE premium screening room in Grand Canyon, a Saint Petersburg shopping mall. The premium screening room offers state-of-the-art technology, an extra-large movie screen, enhanced brightness, DolbyAtmos all-around sound and luxurious seating.
In spring Interros starts talk with Gazprom-Media about sale of Cinema Park. But then the possible deal is off due to disagreements about the price.
"Interros is not rushing to sell Cinema Park but if an investor offers a reasonable price we may consider the deal”, said Potanin lately in June.
In November 2014 Interros sells Cinema Park to an investment group at a market price.