Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Economic Benefits of 2014 Sochi Winter Olympics
March 4, 2014 10:19

Photo Credit:
The Sochi Olympics generated almost 2 billion roubles in revenue for the Russian TV channels who acquired the broadcasting rights for the 2014 Winter Games.
The ad revenues outpaced the rights fees by almost 400 million roubles, says a newsletter by Quendi RusMediaAudit.
According to its survey, Channel One, Rossia 1 and Rossia 2 stations earned 1.95 billion roubles, VAT exclusive, between February 7 and 23. Channel One raked in 55 to 65 percent of the total.
Sberbank, Russia’s biggest lender, was the most active company in terms of advertising. All in all, a total of 29 brands paid for their spots during the Olympic airtime on Channel One, and 18 brands appeared on Rossia 1.
Olympic broadcasts were watched by more than 63.7 million people in Russia, which represents 93.5 percent of the total Russian viewership. The opening ceremony draw some 41 million to the screens while the closing ceremony was less popular, watched by slightly more than 22 million Russians.
With 33 medals, Russia topped the medal chart setting a new all-time record in Russian and Soviet history.
Earlier, Russia-IC reported that the Winter Games in Sochi are expected to boost the economy by 0.3 percent amid a continuing stagnation, says a report by the Russian Central Bank.
According to it, the event will have a positive impact, especially in the first quarter, driven by more demand in the hotel, catering and transportation services. This could add an extra 0.3 percent to the national GDP.
In terms of the long-term impact, there are concerns over the payback period of the newly-built facilities and their maintenance costs. But the long-term benefits will outweigh any negative factors in the long run.

But even the most conservative projections will now have to be revised, after the markets collapsed on Monday by some 10 percent following an announcement of a possible military invasion of Ukraine’s Crimea by the Russian army. 

Author: Mikhail Vesely

Tags: Sochi Olympic Games 2014 Sochi 2014 Sochi Olympics Russian economy  

Next Previous

You might also find interesting:

Beslan Siege Last Soviet Burden Russia - China Turnover May Go Up To 200 Billion Dollars By 2020 Russia Will Supply Buckwheat And Sunflower Seeds To China Strong Outlook for Russia's Energy Sector - Report by BP

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

search on the map
Russian Literature  Yamal-Europe pipeline  Russian Monuments  Russia-USA  Exhibitions in Moscow  Moscow  Russian history  Bolgar  Pavel Nakhimov  Paul I of Russia  Sokolniki  Ancient Estates  Federal Service for Consumer Protection and Welfare  Olympics 2012  invest  Russian tourism  Maria Sharapova  Moscow Disneyland  Russian football  Russian Cinema  Glassware  Gorky Park  Staraya Maina  odd news  Geniuses  Graphic Art  Alexander Pushkin  Rogovs House  contemporary art  Kolomenskoye  Shows in Moscow   Fires  Multimedia  Konstantin Bogayevsky  Maksimilian Voloshin  Yandex  Visa   Rostov Region  Festivals in Moscow  Moscow Maps  Vyazma  Altai Republik  St. Petersburg  Moscow summer  Tver region  Zaryadye  Tako Mekvabidze  Mercedes-Benz Fashion Week Russia  Russian business  Fairy-tales 

Travel Blogs
Top Traveling Sites