MegaFon reduced its share in Start online cinema from 50% to 45% – Kommersant

In April, MegaFon reduced its stake in the Start video service from 50% to 45%, reports RBC with reference to the data of the Unified State Register of Legal Entities. The press service of MegaFon told the publication that a five percent stake in Digital Media Holding LLC (Start’s parent structure) was sold to the “founders of the company.”

The press service said that MegaFon’s 45% share reflects the relationship with this asset as much as possible. The company said that they had never been involved in the operational management of an online cinema, and Start is not a core asset of MegaFon. Who exactly became the buyer of the share, the press service did not specify. The press service of the video service clarified to RBC that the reduction in MegaFon’s share was part of the “initial agreements.”

From the data of the Unified State Register of Legal Entities, it follows that the reduction in the share of the telecom operator in the online cinema took place on April 19, 2023. The publication draws attention to the fact that on April 12, MegaFon hit on the US sanctions list. According to Start’s press service, the reduction in the operator’s share is not due to external circumstances.

October 2020 became knownthat MegaFon will acquire a 33.8% stake in Digital Media Holding. In January 2021, the telecom operator increased share in online cinema up to 50%. In May 2022, MegaFon united video services Start and MegaFon TV into a single platform.

In terms of the number of users in the first half of the year, Start is in seventh place among Russian online cinemas with 1.7 million viewers and a 65% share of paying subscribers. This year, eight online cinemas at once had more than 1 million paying subscribers. The top 3 in terms of the number of paid subscriptions included Kinopoisk, Evie and Okko.

Read more about the online cinema market in the Kommersant publication “Online with tickets”.

Erdni Kagaltynov