At the Russia Forum 2009 last week, some of the major Russian business newspaper publishers revealed how much revenues they generated from online projects last year.
Demyan Kudryavtsev, CEO of Kommersant Publishing House said that it made online revenues of $11 million or 9 percent of $129 million total revenues in 2008. Most of the online revenues came from media (banner) advertising on the Kommersant business daily newspaper site, Kommersant.ru. The site has 2.7 million unique monthly visitors. The other sources included online subscription to the site and other newspaper/magazine sites of the publisher as well as content sharing to MSN.ru. The above sum did not include revenues of Gazeta.ru in Q4 2008, which was merged into LiveJournal-owner SUP. Last summer, Gazeta.ru was expected to generate revenues of $10 million and net profit of $2 million in 2008.
According to Mikhail Dubik, CEO of Business News Media (publisher of Vedomosti and Smart Money), the Vedomosti newspaper site, Vedomosti.ru made $4 million revenues in 2008. The site has more than 3.4 million unique monthly visitors. Business News Media is jointly owned by Independent Media Sanoma, The Wall Street Journal and Financial Times.
The major Russian business publishers including Kommersant, Business News Media, Axel Springer Russia, Rodionov Publihsing House expect their offline revenues to drop up to 40% in 2009. It’s unlikely that online revenues will offset the decline in offline.