Volin: players of the Internet industry in the Russian Federation has responded adequately to the crisis

Volin: players of the Internet industry in the Russian Federation has responded adequately to the crisis

The leaders of Internet companies in Russia during the crisis, reduced spending and reduced wages, while simultaneously releasing new products, said Deputy Minister of communications and mass media.

MOSCOW, 21 Oct. The vast majority of players in the Internet industry in crisis uzhalsya in their expenditures, reducing, including, wages to employees, helping them to continue to develop new projects and increase revenues, says Deputy Minister of communications and mass media Alexey Volin.

“The crisis, of course, in the heads. Today we must say that the current situation, the current crisis is a wonderful opportunity to further break our industry,” said Wolin on the forum Russian Interactive Week (RIW 2015).

As an example, the Deputy Minister led a study on how the industry reacts to the crisis according to which “the vast majority of industry participants continued with new projects and development”.

“The industry didn’t give up, not abandoned for new ideas, and beginning to do two fundamentally important things. First, actually uzhalsya expense… decreased wages, slashed bonuses and at the same time began to produce new products,” said Volin.

This, in his view, “absolutely correct and appropriate actions” that allowed the industry to increase your income. “This share growth has been the result of a correct response to the situation”, — he added.

In his words, the changed behaviour of the population in the crisis creates additional opportunities for the growth of the Internet industry. “What people do when there is a drop of income in the country? They increase games, books, movies, or shows becomes more”, — said the Deputy Minister.

It is very important, Wolin emphasized that “there is a change in the structure of consumption”, people start the consumption of online.

“People in a completely different way to consume, they use other channels, and this is our channels (Internet channels). These channels need to capitalize and turn to the future growth of the economy,” he added.

Import substitution also creates additional opportunities for industry because more and more people are using Russian Internet services, said the expert.

TV today is also “more and more goes to the Internet”, in fact “no more monopolies terrestrial TV”.

“We are optimistic and believe that the crisis is a time of great opportunity,” said Volin.