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May 2020 www.intellinews.com I Page 19
Russians spend more on online streaming amid COVID-19
Russian online streaming services in March-April got a boost in the number of their subscribers and average spending on video content amid the coronavirus (COVID-19 lockdown, Vedomosti daily reported.
As reported by bne IntelliNews, Russian video streaming platforms are gaining speed. This month the former CEO of platform Okko, Ivan Grodetsky, has been appointed by top rival and Russia's largest online cinema, ivi.
In 2019 ivi.ru said it was considering an IPO on Nasdaq by the end of this year, albeit that was before the coronavirus (COVID-19) outbreak. The company was valued at around $0.7bn.
Oko and ivi did not disclose their numbers to Vedomosti, but Oko noted that in April the viewing time doubled month on month and tripled year on year.
Another service, Megogo, had its number of subscribers jump by 84% y/y and 15% m/m in April, More.tv had its paid subscriber base soar 2.5-fold m/m, and Start platform showed 20% growth. The sales of standalone films, such as most recent releases, also increased.
At the same time, the respondents doubt that the lockdown audience can be converted into long- term subscribers that will continue to pay for video content.
In 2019, the Russian online video streaming segment grew by 50% to reach RUB17.1bn ($237.5mn), TMT Consulting's study previously said, adding that this year, it is likely to grow by another 40%, hitting the RUB24bn ($333mn) mark, on pre-coronavirus lockdown estimates.
PPF Telecom Group issues bonds worth €500mn
PPF Telecom Group, owned by the Czech Republic’s richest man Petr Kellner, combining the
activities of the PPF Group in telecommunications, placed bonds in the amount of €500mn, maturing on May 20, 2024. The four-year fixed annual coupon will bear interest at 3.5%.
The bond is expected to be rated Ba1 by Moody's, BB+ by Standard & Poor’s and BBB- by FitchRatings, in line with PPF Telecom Group’s corporate credit ratings.
The group witnessed a great interest from high- quality international investors, with demand 2.2 times exceeding supply.
“We are delighted by the interest that our
investor calls raised despite the unfavourable circumstances brought about by the pandemic and very pleased to see new investors alongside those who bought into our first two issues. The third point on our yield curve that we successfully placed today under difficult market conditions and to a further diversified investor base is a proof of PPF Telecom Group’s credit quality,” said CFO of PPF Group Katerina Jiraskova.
The company also confirmed that BNP Paribas and HSBC acted as structuring banks, BNP Paribas, Credit Suisse, Erste Group and HSBC as global coordinators and joint bookrunners, and Bank of China, PPF banka, Societe Generale and UniCredit as co-managers.
T-Mobile in Czech Republic recorded a y/y 3.1% increase in its revenues
T-Mobile in the Czech Republic posted an increase of its revenues by 3.1% year-on-year
in 1Q20 to CZK6.8bn (€246.5mn), the company announced on May 14. The operating Ebitda increased by 2.2% to CZK2.8bn.
The operational results have been heavily impacted by the state of emergency due to the coronavirus (COVID-19) outbreak.
According to the company, people were using telecommunication services more intensively