Russia's Rambler feels the crunch as ad revenues fall
Curiously they have a new startegy though. Olga Turischeva, who started as Rambler CEO in April 2009, has plans for “reallocating more effort to such services as communications and navigation” but also her “long term vision is to transform Rambler into an incubator of ideas and start ups.” Sounds interesting.
The other financial highlights are total revenues of $30.8 million in the first half of the year (H1) 2009, down 40% from $51.7 million in H1 2008. Revenue from contextual ads is on $12.7 million, down 45% from $23.2 million. Revenue from display/banner ads is on $13.1 million, down 36% from $20.5 million. Revenue from paid listings is on $1.8 million, down 38% from $2.9 million. It had an EBITDA of $2.6 million in H1 2009, down from $8.9 million in H1 2008. Rambler Media’s shares are traded on Alternative Investment Market (AIM) of the London Stock Exchange.
The site is getting 51.5 million average monthly unique users in H1 2009, up 38% from 37.3 million in H1 2008. There were 3.1 billion average monthly page-views in H1 2009, up 10% from H1 2008.
(via Quintura)