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News

"Russian Post" announced a subscription

"Russian Post" will consider the possibility of creating its own press subscription agency. Now this is the direction in which the FSUE works through intermediaries, it is unprofitable and since 2014 the government intends to take away the "Russian Post" compensation related costs that exceed 3 billion rubles per year.

"Russian Post" is ready to consider the possibility of creating its own agency for subscription to periodicals, announced yesterday the head of FSUE Dmitry Strashnov on the advisory council for the development of the postal sector in the Ministry of Communications . "I believe that the "Post", having such a powerful infrastructure, ready to distribute each edition to the mailbox, in principle is capable of creating their own subscription agency", - quoted Mr. Strashnov "Prime".

According to the Federal Agency for Press and Mass Communications, revenue from subscriptions to the print media in Russia in 2012 reached 21.2 billion rubles. Total through this channel extends about 35 % of all runs and this share is growing every year - primarily due to lower retail sales. "Rospechat" agency, according to its own data, controls about 35 % of the market in value terms of subscription. Under IFRS, revenue for the agency in 2012 amounted to 9.29 billion rubles, net profit - 76.6 million rubles.

Subscription to “Russian Post” is an unprofitable direction. Since 2008, the Federal State Unitary Enterprise receives reimbursement of these costs from the federal budget - for example, 3.2 billion rubles in 2013. But in the draft budget for 2014, such subsidies are not available. In November, members of the press market, including the Association of Press Distributors (PDA), sent a letter to Prime Minister Dmitry Medvedev proposing to retain subsidies, in order to avoid the negative effects for the entire media market.

Subscription agencies market already is highly competitive, nine federal players are on it, and any attempt to create a monopoly player would be only a blow for him, said the Chairman of the Board of PDA Alexander Oskin. According to him, the creation of subscription agency in the “Russian Post”, which does not have the technology, staff, would require significant investment - about 3-4 billion rubles.