Yandex revenue nears that of Channel One Russia
N 16 April 2013

Yandex revenue nears that of Channel One Russia

Russia's leading search engine and Internet portal Yandex earned 28.1 bn rubles on advertising in 2012, just short of Channel One Russia, whose revenue reached 28.2 bn (roughly $0.9 bn).

Yandex' income is growing faster by far than that of Russia's leading TV channel: only a year ago, Yandex' earnings were about two thirds of those of Channel One. If the trend continues, Yandex will outstrip its closest rival next year. The term 'rival' is, however, not entirely correct, as 87% of Yandex earnings comes from contextual advertising, or, in other words, from medium and smaller advertisers who cannot afford TV ads.

"We don't see Yandex as a competitor, there is only about 10% match in our advertising reach. We salute the company's success, as it attracts new advertisers using contextual adverts, those who would not otherwise enter the market; and, by doing that, Yandex stimulates the general growth of the ad market", a Channel One Russia representative commented.