The online cinema ivi has launched a motivation program for the company’s top managers with “phantom” shares, writes Interfax in reference to the service’s financial statements. Executive compensation will depend on the growth in the market value of the company’s contingent shares.
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The company adopted the program in late 2023 and it applies to “certain senior employees,” according to the accounting report.
Under the program, employees’ entitlement to receive such “phantom” shares will depend on a given period of work of 1 to 4 years. The reward will be issued in the form of money “when the events specified in the program occur.”
As follows from the document, in 2023 ivi spent 906.6 million rubles on the motivation program. The company increased its revenue to 16.6 billion rubles (+30.4% year-on-year). 12.5 billion rubles of revenue come from paid services.
The company’s net profit at the end of last year amounted to 2 billion rubles, compared to a loss of 693.7 million rubles the previous year.
According to a GfK study, ivi ranked third in number of subscribers in the first quarter of 2024, with a 10.7% share of the online cinema market.
Author:
Natalia Gormaleva
Source: RB
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