MediaNet

MediaNet - independent national media agency of Russia. Develops strategies, plans and implements advertizing campaigns in all media canals.

History

2020: Claims of partners for bankruptcy of Media Net

As it became known on October 12, 2020, one of the independent media agencies Media Net, largest in the Russian Federation, did not withstand crisis — partners decided to make bankrupt the company.

According to Kommersant with reference to data of Arbitration court, on September 29, 2020 Media Factory LLC submitted a claim for bankruptcy to Media Network LLC — the main structure of Media Net advertizing agency. Case will be considered on December 1.

Among requirements to Media Network LLC there are also claims for 2.2 million rubles from the producer of the advertizing structures of Chisty gorod M LLC and for 2.5 million rubles from advertizing agency Nord Star Media LLC.

MediaNet did not withstand crisis, partners of the media agency made the decision on bankruptcy

According to the experts polled by the edition, problems of advertizing agencies can be connected with a pandemic of COVID-19 which entailed reduction of budgets in all spheres of business, especially in small business.

By estimates of AKAR, the total volume of advertizing budgets in the first half of the year 2020 was 205 billion rubles that is 9% less, than last year. The market of regional advertizing was reduced even more — by 24%, to 16.4 billion rubles.

Reduction of budgets of regional advertisers can cause series of bankruptcies of the regional media agencies, local business felt crisis is stronger than federal, the CEO of PHD (enters into Media Direction Group) Dimitris Vayas confirms. The regional media agencies do not work with long annual trades on TV, and usually sell placement in the cities which are not covered by the federal seller in the conditions of reduction of budgets in the second quarter 2020 such placement and removed first of all, the TV-director "ADV the Lab" and "explains ADV the Benchmark" Sergey Shuskov.

The president of Twiga Communication Group Alexander Ogandzhanyan says that so far participants of the advertizing market become bankrupts rather seldom, many agencies carry out reorganization or change the sphere of work.^[1]

Notes