Welcome, everybody my, name is davina pollution. I'm head of media technology and, a cheap register, to investment banking at Renaissance, capital, today. On key buyers may event am honored to moderate panel, discussion, dedicated. To the russian, over-the-top, market i think. If you ask the same question, to say three, russian experts, most. Likely, you'll get six different numbers, and their. Ancestry, a while the level of uncertainty of. Future market, development, on, one hand and the variety of strategies addressing. These, uncertainties, on the other but. There is one point you'll probably hear. From everyone, current. Market potential is huge and you definitely, need to play, today. We'll try to figure out the rules of this game with. The key leaders of the market, let. Me introduce, them, it's. Denis. Gough Gough share, with moratorium. High. Genius. Repeats. Do, Lehman do boy ever sheriff. Start. It's. The UH Nabateans OSE of Aughrim, which media services. Young. Under. Monkey dream kerman director. Of s premier entertainment. And familiarity. Platform. So. I always, thought oh, yes. Sorry, I would, like to start with the following, slide. Can. You please show, us like number one so. It's rather a vivid you can see the penetration level, of VOD services, and Russia is, relatively. Low. Compared. To developed. Markets US and China and. Seems. Like all. The game, and play is, on the beginning so, I would like to address my first question, to you, de so. You have always been rather. Of domestic regarding, the market and the numbers. And. Especially. Regarding the. Audience. World, wild, russian-speaking, audience, you have, so do you currently see, any substantial, audience. Outside Russia. In your subscriber, base or. It's only. Hello, Thank You yogini I would, like to start, by. Couple. Of words introducing. Start, for. Our international. Audience. Start. Is, subscription-based. Streaming. Service it was launched, in. 2017. By, one of the big independent. Production. Studio in Russia it's called yellow, black and white. Start, focus, on local, content, and mainly. On production. Of original, series and movies. I would, audience, reached four. And a half. Monthly. Active, users last. Month and, we. Have more than 1 million, active. Paying subscribers. Currently. We. Became the most, fast-growing, market. Player in, 2019. Based, on telecom. Daily market report, of. Course the numbers, on. The last, graph you showed us. Are not so big, and. That's. Why we also were. Focusing. On the, whole, russian-speaking. Audience. Globally. From, the very beginning from the launch, of our service. The. Current, our. Audience. Outside. Russia, is about 30 percent. We. Have, subscribers. In more, than. 170. Countries. Top. Five countries are quite obvious. Its, German. Us. Its. Israel. UK. And Spain we. Even have one subscriber on. Madagascar. But, of course the main sub countries, are as follows. Our. Audience, of our brands, are, really even. Bigger, than. Of. Start. Platform. Because. We, focus. On international. Distribution. We have for example our. Brands. As. Netflix. Original, our. Original. Series. Better. Than us. Were. Adapt on 25. Languages. So. The. Our, original. Brands are really bigger. Than, our. Audience. We. Also have. Our. Brand. Called. Fashion Affairs as Amazon. Originals as Amazon, Europe, clear. So I think you're the story I think we'll speak. About it so great news but I think we will speak about it a bit later when we'll talk. About content. Production I will. I. Think. We care we should return, to the market and I, think my next, question. To yella. Regarding. The. The. Time, which, consumer. Is. Going to can't, use. A multi-tier services, so I know you have some. View on this and. How. Do you see, your, key competitors. On this market, so your service. With. Whom. Complete. Okay. Basically we, we. See our competitor. No we see our landscape, I would say is. It. For, four. Key, parts, first, part is of, course very deep layers, second. Part linear TV and paid TV, sec. Third, part is video, aggregators, like. Like. Tic toc like youtube, and also like. BK. And. Of course pirates so. These. Four. Groups are. Are. Trimming, the landscape. For, basically. For our market, as we as we see, our market, and of course as you.
Know As pirating. And linear. TV are declining, PT, Li is, is. Growing but a little bit you know slowing down and, of course video. Video. Aggregators, and view the players are growing, and growing quite, fast so basically. For. Us. All. The, beauty players and video. Aggregators. Are simultaneously. Competitors, a small, taneous Li like partners, for the market because. Right now we are you. Know we are just forming, the market market. Is like in, the early stage of growth and our. Key, tasks for all processes, as I see is to to. Create the, you. Know this this. Pattern to pay and, to pay for good content, good for good original, content, or justly licensed, content no. Matter, but that doesn't matter so basically. For us our. Our. Competitors, are our. Partners, because they they are helping us and we, are helping them because your. Sorry. Could you please repeat, because. You are in. The market. Yes. Yes exactly and, for. Example as we see only. This year the, dynamics, of you. Know the the share, of customers. Share of people. That are ready, to pay for the, legal content. Started. To grow only this this, year we see this you know this tremendous. Dynamic, the, name is for example last year it was like only, 23. Percent cities. It, was researched by they've, been done by media media's, here. I think. It's like me, yeah me it. Was already thirty. Two percent so, basically, it's quite quite a significant, growth, so. For us we we, see the, perimeter. Of our, market, this is as a as a describe some. Players you, know are, considering. Market, a little bit wider or even much wider for example, they. They, think that, you, know we we, are all competing for the, for. The consumers, time. But you, know I think it's let it a little, bit like a mistake no not a mistake but. This. Message could just mislead, I would say the key players because. You. Know people are not choosing in their mind they, are not choosing for example where to see the content, to go, see him to go to cinema or for example to, and. To take a look at it you know to see them on a screen for example in home. Smart TV or your. I don't know mobile for example, they. Are choosing between going, out and. Seeing, content, like like that you know so. This. Is this is different scenarios, in consumers, in mind so, we see that our competitors, firstly. Those. Ones who are providing, you. Know for providing, the visual. Content but, you know by you. Know by different screens something, like that. Difference. And and, and and and it and it is not like offline, cinemas, and all the things it's not parks or, theatres or something like that. Yeah. Thank you yeah I think, is. A bit, different view on this story, i. Premier. OTT, platform, was one of the first and. I, think currently you, have the lowest. Subscription. Tools for. The customers, but. What was the result of the new poll teeth you're introduced. So. Do. You agree with Jana that you really, can t you don't compete with other. Alternatives. To spend, your time when. It's your subscription, is almost. Zero or. What. Dynamics, you you've, seen. When. You introduce, these new terms to, the market. Yeah. Any terms you gimme you mean a new, price yeah, we have the lowest rise in the market and, that was a interesting. Yeah, just to remind you who, ever watches. Us right now that I represent, premier. Video. Service. And. Just. To tell you one sentence, about us we produce the most of the original series and. Probably. High, schools because we we. Started, earlier. Than anybody else yeah back to your question, we, have the lowest price in the market, and what became became evident. That it's not the price that holds. The market from the explosive, growth it, is something else so, we've seen you. Know well introducing. A price. Which, is roughly. 45. Cents. Of a dollar, we, don't see. Explosive. Growth yeah we've seen growth, but, we haven't seen an explosive, growth and when we mentioned. The growth of 25. Percent. It's, still I am not calling it explosive. Because we start with a very low base so, what, happened, with this price that we, minimize the churn rate the, rate of. Unsubscription. That's, that's for sure but, we haven't seen. You. Know a, huge. Inflow. Of the new, subscribers. So. What, holds the market from that explosive, growth I think is, a. Lack, of, offering. Offering. I, mean an exclusive. Content, an original, series in. A large, quantity. Right, now I don't know market, may produce. I. Don't, know 20, original, series, a year. Maybe. Less I don't know let's, let's, verify this number and we, produce them. Probably. 50, percent of the market the, rest of the content, which is available in any. Every. Platform. Can be found. Everywhere. Else you, know with pirates, with. Yeah. Basically everyone, is offering more or less the same content, and I think this is the, offering the content, offering, is the major, obstacle. But, we. All just, started market in its infancy, and I'm sure that, with, the giant efforts, in. Two. Years from now the market, will not.
Be. Completely. Different, in terms of the ocean and, we. Are. We. Are certain, that SVG. Is the is, the future. Perfect. So, then, let's. Get. A deep, dive from the contact, on. The on, the content they. Took if you you've just covered, because it's, it's clear, this. This. Team will brave the market, so, let, me address my question to, more genies so, Denise you recently as. Some. Of your colleagues. And. As, you they have. Just said and and. You, recently. Announced, a number of deals first. Of all an. Agreement with the, Assad CB s another. One yes that there are two, two more names to. Come so. What you what's. Your strategy what's, your contact strategy, here. Are either to do original so, to the licensing or. Both. Let. Me turn in to introduce, our more TV in few words just to understand, how it's working so. It's a streaming platform, of national, media group which is biggest. Media holding private, media holding in Russia in, terms of concept. Of more TV it's, a mixture of linear, streaming, of popular, free TV and paid. TV channels. I would say we present, a skinny bundle, of most popular paid TV channels, in the platform, and it's video on demand in, two. Main offering. Sweets, a what. When the content, is available for free with advertising, ad and, subscription. Of your name. You. Are right that we just concluded. Big. Deal multi-year. Deal with Viacom. CBS. Which. Gained as exclusive. Access to. The. Slate of TV, series from, Viacom and from paramount, and. Coming. Months, I believe, we announced two major deals. With studios, in. Terms, of. Strategy. Where we'll be national, ones as well sorry these, two the answers are to be international, names as well, yeah. With measures. Okay. In terms of strategy, we believe, any, mix of, local. And, international. Content. In terms of, local one. The. Main part, is pretty, be library, and free, TV premier, some, of them represented. In the service before. Free. TV. Initially. In subscription. Mooji and then, after premiere on free TV on catch-up basis, on a watt model, then. The second part is digital. Originals, because the more originals. And last, week we just learned. One. Of ours, this year blood, blood blood Buster's. It's called cheeks or, cheeky, it's. A story about female, prostitutes. In Russian. Province. We, decide to start a new life and fitness co-op and you can scream, as a show during, the market, and till. The end of the year we plan to launch, four. Or five more, original, shows you, can also screen two of them during the market, one, of them is called, psycho. It's, a girl series from russian famous director, fedor bondarchuk and. Another, one is called happy, end which. Is provocative. Comedy. About russia and webcam and porn, industry. So. Third. Part is international. Content, and here. We rely on. Biggest. International. Hits like, Fargo. Or hansman, tail, and, you. Both. Shows. I will, be valuable more TV and. First. Part is. Like. Sport, vidiians at the moment, represent, on more TV UFC. And we're also to plan, to expand this area. Okay. So seems, like you have everything, so. I think there. Is one more player who, is. Everson. Sports. Talent from Sports andn, - I don't know music, concerts which, became popular and. This paveed. Pandemic, so. Yeah. My question. -. Okay. So seems like it's like carpet, bomb bed or you have more selective. Approach in, terms of.
Contact. You you, invest in. So. Basically. Yes. We're we're, platform, up everything, but a little bit another everything, I. Would, say okay. Is a multimedia. Platform and we are, operating. On a separate. Subscription, business model. On. Transactional. VOD and preview. Eg for, example we are not operating on a business model that called a a VOD so, we are not providing, the content. Would. Be. Advertising. So it was a our. Conscious, decision. Not to go into this market, because of its I don't, know I would say lower. Lower, growth then for example paid, and, I mean I mean sport or tea would people, business model but we we've, introduced for example free would we've. Introduced it for, example with these live, shows so. Musicians. Popular. And rock musicians. Or. A little, bit another content, like you know Fitness streaming. And something like that so this. Is a quite, huge part of content, on our platform, that we're providing absolutely. For free without any advertising. But. Our of. Course our core Moodle is subscription-based, and. Intersectional. Base and we, are we. Are going both into, the international. Content of course incorporating. Not only content, up to different majors, but also the, you, know the huge which, packages, huge products. For. For. Our partners for example recently, we've interpreted on, our platform, the, product, exclusive. Product. Paramount, plus so, we are exclusive. Partner pheromone, plus. In Russia, so. Also we are providing, a lot of local, content and, here. We also doing. Like licensing. Or incorporating. The whole products for example we are partnering with start. Also. For. Example we, also, we are playing. Into originals, of course and we are we. Are doing. Our, own production but. For us it's not like a choice between between. E carpet-bombing and hand selective approach because, you, know to to. Grow the. Unicorn, it's not enough just to invest into one company, and get, a unicorn.
Of Course our approach is cookies is selective, but our selection, is wide enough because. You know we need to choose. Enough. Enough. Content, to to make, it happen you know to make it like. Play. Good success story so our. Approach is to. To. You know to provide, the, at. Least at least sufficient. Minimum, on our platform, and for, example to introduce at, least one. Original, series. One. Exclusive, materials series, per month and one. One. Exclusive, him. In. Two weeks so, it's all like approach. Of sufficient. Minimum, of, course we are trying to sometimes, go to to do more but. It like like like a minimum and of course we are you, know we are trying to also. To develop the market you, know to you know not, not to develop but to. To. Help developing, the market I would say because, you, know the more the more production the more competition yeah, and the more. The. Better content, we get and. The, better content, you know, creating. Forms the the, next level of quality, of the content basically. You know it's less than something like a circle so we are getting better content, we are getting more, customer, base on, a more customer base and larger customer base we, can invest. In more and. More content so this is our strategy to. Selection, but selection, not like like I, don't know one. Feel more one serious very, of course our. Selection, is wide enough. Perfect. Thank you can. Ask a moderators, to show. The. Second white. Just. To. To. Give some numbers in in. The global context I you. See and how. Big is the budget. Of Netflix compared. With. The military expenditures. In, Italy. Australia, and. Turkey and Canada and what. We are talking about, Julian. And Denise. It. Definitely. Needs substantial. Investment. And I think well. Let's move. To the to. The numbers and money, behind, so. Start. Platform. Together. With premier I think was one, of the 10 years of the Russian, market produced. And Statten started. To produce original, series. So, at, some point of time and. People called starters, Russian Netflix so, my question, to you there. Given. The size of the market which we discussed, at the beginning of the discussion, which is relatively. At. The moment is not so big on one, hand only on another hand. Huge. Investment. Requirements, and you. Have to produce, originals. So, how, to how. Do. You see this play going. Forward how, my playing planning. To break even, given. This input. And, you. Started. Telling. Us regarding, your international, experience, could. It be one of the wastes how, you. Play. This break, even. Of. Course recoupment, of it best investments. Are very, close connected, based business, models, and.
Each. Share market, play has its. Own our business, model and also, with content. Strategy. You, discussed, previously. We. As I said before start, focuses, only on the local, Russian local, content so. For, example our acquisition, budget. Content, acquisition budget, are not so high but, we invest a lot in original, production, because. It's our main focus, it's, our. Main. Our. Original. Series, and, movies. Are the. Main. Drivers. Of new. Subscribers. For start. So. Our. Content, strategy is. Original. Content strategy. Is more. Close I feel with. HBO. It's. About high quality premium and. Selective. Approach, we. Launched. About. 10-12. 4 original, projects. Per year and, for. Example in development, now we have about 30, projects. TV. Serials. Movies. And documentaries. Yes. We were the. First player. Who launched, premium quality, original. Series. Without. TV. Channel, or, big. Company. Behind us, it. Was, Russian. Affairs our, original, series it was some kind of our. House. Of cards for, start. So. It. Was launched in, in. The beginning of, 2018. And. This. Year we launched season, 2 of Russian affairs and. By. The end of. April. This year we. Recouped all our investment. In, this, original. Series, and also. Start. As a company. As a business, our became. Profitable. At. The end by the end of, 2019. What helps us to, recoup, it very. Sorry. Profitable, on the, P&L, level I guess but. But. How about that not only really fun, on. The, cricket. For. Sure on P&L. For, sure and also, in. Cash but, now. Of course we invest a lot, all. Cash, we get all profit, we get we invest in new, originals, we invest in content because, market, growths are really. Very. High so, for example subscription. Segment I, guess, last year, the. Gross was more, than 80 percent as I, remember, so. We, have to invest, a lot but. We don't invest, new, money we invest the. Profit, I, think. That it's really very, important, for the market and. What. Else helps. Us to. Become. Profitable to, recoup investments. Are first. Of all that. We focus we have only one. Model. We. Provide. Access only. Based, on subscription, model arm. So. We don't have, advertising. Or est, model. For. Example a Russian, affair series, became. Recouped. Only, based on subscription. And we. Made. Profit, also. But by, edon, international. Distribution. The, role the, overall, business, model of start is about. Have. Part. Partly. We have originals. Only, exclusively. On start, and part. Of our originals. We, premiere, on starts and then, we. Distribute, it for other platforms, for, example for TV channels, for other. Platforms in, Russia and also internationally. So. Our. Business, models is based, on subscription. The main revenue is subscription, for us and the. Secondary, is distribution. Of our originals. Yeah. Clear, so, I think it's logical, to pass, the word to. Ramon. Who. As. Julia. Big. Lava of a selective, approach with. Big. Titles, quality, ones and I. Think the. Question is pretty. Much the same so, how, full is your tank, right. Now in, terms of money to. Continue. The, path you. You. Started and. Again. When, do you see the, break-even, for. You and what's your strategy given, that you are not, familiar. Platform. Standalone. You're a big hotel and you have the bundle with, the with. The biggest community of holding whether, it helps you, to break, even or not and what's your strategy regarding. This. Just. To begin I, would, like to say couple of words about our content, strategy yes, we are part of the big media. Holding and. Our. Main, invest. As far as this VOD platform. Is concern is. Original. Siri. TV series, this. Is the biggest challenge. Chunk of the, investment. Our. Strategy, is a big national hit, it's. Not a, selective. Approach it's not niche market, it's. A big national kids, that's what we can that's. What we know how to do in. Television. Last. Year, in. 2019. 9, out of the 10 highest, rated, TV series were scientist in a younger demo 14. To 44, I. Think. Unlike. Other. Players. As VOD players in the market. For. Us. As. VOD business, is not just. You. Know something. That is nice to have this, is absolutely, essential because we, know that in the next 10 years or, so the, market will be moving in this direction in, SVG, and, we know that. It. Will happen at the expense, of the broadcast, business so right, now. 95%, of, all. The, revenues, that we have comes, from the broadcast, business and it's essential, to have.
A. Point, of growth. That's. Why we are Kimmy, as an investor, we are committed. To, investing. In SVG we, have a five-year. Plan. We don't, expect. Immediate. Breakeven. We. Hope to break-even in, in. Five, years I think the market. Have. No other ways who. Have, no other ways, but, to grow. Yes. That's, the answer, okay. Thank. You so I I think my. Next question, I will, dress to Denise. So, moderate away is also, a part of big, problem as you already mentioned and, same. Story as, Rahman. Said, regarding. Bass Pro media you have with Marita where and, national. Media group and, estates. Channel. So. What's. Your KPIs, regarding. The platform. And, how again, you see. Your. Monetization. Model. And how. You. Will. This bundle see. Where. You shall create value, and where you should monetize. It. Actually. Within an mg ecosystem. We have production, houses we, have few. Free TV channels, we have a range of paid TV channels, and we join and we have a giant digital, platform, as Matthew. II so. The. Idea of energy is to control, the full. Circle, of content, starting, from production, and finishing. To. Distribution in, all levels. For series, it could be. Digital's. And, free TVs and pay TV for, movies it, could start from set. Rico so. That's. The idea and depending. On the content, we. Can monetize, it only on s word and then, on a world an international. Distribution or, international. Sale sales for some series, we start from digital, and then. Move the series into free TV of a TV and. In. Terms of bundles, and stretchy strategy. We are also working. Very closely with. Telco. And mobile, operators. In Russia and, CIS and. For example, more. TV subscription. Is integrated. Into. Rostelecom. And, megaphone, services, in Russia both. Available, as standalone, or, as. A part, of different packages. So. We. Are trying to, be to, be broad in terms of, monetization and. Distribution. Of our. Content. Assets. Okay. But this, partnership. With, telcos. And other. Names. Outside the. Energy, group and do. They give any. Substantial, numbers, for you in terms of the audience, or and. Again. The revenue. At. The moment, yes because you. Know more TV is a new service just launched, the end of last, year, and from. The beginning more, TV. Was. Included, into, Rostelecom. Offerings. And the existing. Customer. Base and, the same with megaphone, so. At. The moment yes it's. A good source of, revenue. And. Subscriber. Base base. Clear. So. When we speak about the assistance, I think. One. Of the most. Logical, names. Regarding. This. This. Topic is their, bank and as, we all know. Okra, is part of, those. The shareholding. Interest. Is part of the verb America system so, my question, to Janna. Again, I think. Pretty much the same answer. To the other participants. But. But. But regarding, your your, own ecosystem so. What, is what. Are the key KPIs. For. Your TTA, platform, whether, its audience, commitment. Again. The figures of, revenue, or something else. You. Know for this for, this phase of. You. Know developing market, developing, I would, say that I, would. Say that this sequence of key, metrics for us is the following first one is a paid base. Secondly. In say revenue and, totally. Its margin, something. Like that so, because the the worst case for of, course we are studying with the audience, then we are converting, it into the paid subscribers, but anyway paid, subscribers, is like our key metrics because, you know the worst case that we even could imagine is to. To. Come to the face, of consolidating. The, market and basically, we strongly believe that it. Will happen maybe in two or three years or even, earlier, the. Worst case for us is to you know to to. Come to this point with the good margin but with. The lower low. Subscriber, base like you know some. Some. Senses, some, good piece of subscribers. Over the good margin you, know, so. For us it's like the sequence, is following, that doesn't basically. That doesn't mean of course that we. We. Are acquiring, the subscriber, base you. Know at. Any price, no no also we are trying, to be within. Sustainable, business model because basically we have two. Shareholders. With. Basically. Quiet strong. Covenants, for us, but. Anyway we are we. Firstly, we are of course we are focused. On a acquiring. Paid customer, based not. Only acquiring, but acquiring, and of course, retaining. It. Regarding. The business model for, a small oil, of, distribution I would say it's. Is. Diversified. Basically, mostly. It's a meat-eater, see model because, we are basically. We are distributing. Our service, throughout.
Smart, TV smart hubs and, through. Weapon. And and and mobile of course but, also of course we're partnering. A partnering, and we. Are partnering of, course with with various Burbank, distribution, channels, but. Not only not only with them we. Are creating, also, creating, Bonneville's, telcos. It says the means didn't say it a little bit similar. Story but. For us the I would say the key players key. Partners for us right now is. Mostly. Activity. When I think of mobile. Regarding. The numbers, we. Are partnering for example, with male role group and. We are part. Of combi. A super. Subscription, or like combo. Package, together. With the music and all other services so, we are you know we are trying different business, models and seeing. How it out. They, are reflecting, on our business, metrics, also. We are partnering. With different, retails. And. We, are for example we are, providing. Our service, packages, with all service packages, to, different to. Different TV. And TV sets now, a lot of business models and of, course for us the bundling, and, ecosystem. Ecosystem. Others, are, you. Know our factors of success for example with, Burbank we are doing a lot of a, lot of consolidated. Offers, for example with with, all of the you know other, other. Place of like a system for example city mobility liberal clubs bear market and all I, mean all the other partners we, are, together. We, are. Doing. Some deep and consolidated. Communications and. All that things and. For. Example we are a part of bourbon, spasibo, bonus bonus, program, and that basically, allows. Our subscribers. To pay for the content mode by their life. Money but but by, by, bonuses, so a lot of opportunities, for our customers, or opportunities, for our partners, and we, are trying to move or using, you. Know using different, business models not to you. Know not to be, dependent, on like, you know one or two business model and. For. Us it's like something. That helps, us to ghostwrite fast for, example last, year we we. Our, growth will the gross, by revenue was. Almost. 100, percent this. Year is, like something. Similar, so. We. Are keeping moving. Yes. Sounds good and sensible, so. The, last question of. Today's, discussion it, will be. Unified. For the participants. So quite. Short one and, if. You could give a short. Answer would much appreciate so. What's. Your view on five, years perspective, in terms of number, of, subscribers, subscribers. Brain. Subscribers. Russian market will have and what. Do you think will. Be the, average ticket, they, will pay. You. Know what, starts with you. I'm. The first one and. I, don't know which numbers you really would like to hear. It's. Really they some. Kind of thankless, job to make predictions so, I would, not prefer to. Speak. About the numbers, because, the the market is growing, rapidly and. It's. Really booming but, what, I really would like to say that, futures. Of our market, is in cooperation, in. Collaboration. In acquisitions. Also. Locally, and with international partners. So. That's, why, we. Are really. Focusing. On, international. Development. Or. International. Corporation, and that's why start, goes global and are, interested, in corporation, inside our country.
Thanks. Everyone. What's your view. That's. An interesting, question. Because. We're running out of time like numbers, of subscribers. And. How, much, they will pay yeah, I. Got. It I think if we. Haven't. Reached 25, million, households. In. Five. Years I think we all collectively. Failed. You, know my number my, medium minimum, number, is 25, million. Households. I think, the sustainable. Price should be in. The area of, three. Dollars. Three. To, five dollars, okay. Thank you Jana what's your view. Basically. Quite quite similar I would say because of. Course it's the same tightrope and all of the things and. The. Thing is you know that that. Know that it's not a market that is growing and, we are like, you know having, a share of it no, we we are forming the market and we are growing the market so, a lot of things depends. On us within. This this. Upcoming five, years but, my forecast is like you know from. I would say from 30 to, 50. Verse. 15. Million, subscribers. In five years something like that I would, I would prefer corridors, no not exact numbers but corridors, thirty to fifty millions, and I. Would say that. The. Average, check. Will be like maybe. Maybe. 200. To. 400. Troubles, per month. And. Yeah. And regarding, the regarding, the number of subscription. That, subscriber, will have by this this, this, year I don't, know but it basically I don't, believe, that it will be like, the, only one, subscription. I would, say that it will be sample a around around, two subscriptions. Okay. And the last one genius. What's, your view on these, two numbers I. Agree. With Alex and generals in, general. For. Example on pay TV site at the moment we, have 40, million plus. Subscriber. Base in Russia so. My. Forecast, for subscription. Ryoji is, around, 30. Maybe, 35. Million. In five years. In. Terms of average, price. Is. An, interval, between three, and five dollars at, least how, we see it at the moment and in terms of number. Of subscriptions, I believe. It will be average. Two. Or three subscriptions. For, four households like, we. Have in u.s.. At the moment or in Europe. Okay. Thank, you so, unfortunately we have to finish I would love to thank all speakers of today's panel. Discussion the. Organizer, of key, media, buyers event and the audience who's been to asked for the five minutes with us hope. You enjoyed our discussion.
2020-06-21