Kompaniya (Moscow), September 5, 2005.

The only Russian business TV channel, RBC TV, has reached the breakeven point a year after its launch. According to the business plan, RBC TV's revenue was targeted at USD12m for 2004 and has beaten the expectations, jumping to USD17m. Growth in advertising sales outpaced the advertising market's expansion rates (over 30 percent).

Thanks to advertising revenue, the TV project became profitable in May 2005. In the first quarter RBC TV's revenue was USD4.8m, up 37 percent from a year earlier. According to preliminary forecasts, revenue from RBC's TV project will likely hit USD25m in 2005.

Having reaffirmed its position as the media market leader, RBC addressed Russia's business community to present its culture initiatives. A new business season started on September 2 in Gostinny Dvor hall. A pompous ceremony was held to mark RBC TV's anniversary. "We have invited all our friends and have presented this gala to them," RBC TV General Director Artyom Inyutin told journalists. "This was not a corporate event, but a real high-society one. The TV channel is not only an instrument to deal with financial information, it is also a style attribute for a modern person, an element of a certain culture."

Both politicians and businessmen confess that they are loyal to the business culture. "I watch RBC TV every morning while I exercise," economic development and trade minister German Gref said in an interview with Kompaniya, "at least two news broadcasts and everything in between." Taking into account exit polls results, millions of people interested in business information throughout Russia stay abreast of the Russian elite. RBC TV is broadcast in 60 Russian regions, the Baltic States, Belarus, and Kazakhstan. Moreover, over 70,000 visits to RBC TV's website have been registered. An Internet accessible television archive is a good option for Russian-speaking viewers on long vacations abroad or residing there.

"Our goal was to create a specialized niche TV channel to communicate with professionals in their language," RosBusinessConsulting general director Yuri Rovensky said. "And it should enable non-professionals interested in the economy to expand their knowledge of it."

Staked on the niche of business TV, RosBusinessConsulting has boosted its capitalization from USD80m in 2003 to USD603m in August 2005. Early this year, RBC TV embarked on a new, joint project with CNBC, editing Business Russia, a weekly information and analytical program broadcast by CNBC. The new program targets foreign investors and provides a summary of Russian markets and corporate development trends in various sectors of the economy. CNBC is the only European TV channel to broadcast live and to target the top executives of European companies as well as the European market for financial services and investors on it. CNBC Europe vice president and chief editor Jeremy Pink commented on the event saying "We are glad about this new milestone in cooperation with RBC TV. Our audience is becoming more and more interested in getting a full range of information about Russian business and its economy."

Market participants praise RBC's TV project. "I'm glad RBC TV has turned out to be a success," general director of the Russian Financial Corporation Andrei Nechayev said. "I would like to see the business TV channel rival Reuters, Bloomberg and other western information services." This is not that far in future. Next year, RBC TV top executives plan to invest in regional development. "In Moscow, we are not only going to broadcast with via satellite cable channels, but with Mostelecom as well," Rovensky said. "Moreover, we have decided to enter the Ukrainian TV market."