Russian Internet portal Mail.ru enters booming film market

Russian Internet portal Mail.ru enters booming film market

The online advertising industry in Russia isn’t doing too bad. In October 2008, Sfnblog noted that online marketing communications in Russia have experienced a surge in financial backing since the beginning of this year. Total marketing numbers for 2008 would average between $1.04 billion and $1.48 billion, said market analysis firm Tagline at the annual Russian Internet Week. They based their findings on a study of 600 companies.

But the country’s box office is doing even better. It reached $830 million in 2008, up 47 percent on 2007. If you take that in account, the following news isn’t as weird as it seems.

New York, are you ready?

We’re building Momentum: an all killer, no filler event this November.

Mail.ru has become a major investor in production of horror and adventure movie “Viy” in exchange for movie box office returns, reported business newspaper Kommersant (via Quintura). Last summer, the Internet portal pumped $5 million in the movie, what makes up for some 25 percent of Viy’s budget. Here’s the result:

[youtube:http://www.youtube.com/watch?v=XUDyC0z107Y]

The mystery movie is based on the book of Nikolay Gogol and hits cinemas in the fourth quarter of 2009.

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