The Russian station TNT had revenues of R16.9 billion (€270.8 million) in 2014, making it one of the best performing broadcasters in the country in terms of growth.

According to Vedomosti, the figure was 8.1% up on a year earlier, and while it was less than half the 17% growth recorded in 2013, it was 3.5 times the national average.

Advertising accounted for 98% of TNT’s revenues in 2014, with ad revenues up 7.1% year-on-year.

For the Russian terrestrial TV market as a whole, ad revenues grew by only 2% last year.

Meanwhile, total revenues fell at some of the leading broadcasters. NTV, which like TNT is part of Gazprom-Media, saw a reduction of 12.2%, while CTC Media’s fell by 2.1%.

Some industry sources believe the TV ad market in Russia contracted by between 20-25% in Q1 this year.