Okko reports first operating profit as user base expands

Russian OTT TV service Okko has reported its first operating profit after first-half revenues for the online movies service jumped by 59% in one year.

Okko posted revenues of RUB536 million (€7.7 million) for the first half, up 59%.

Okko said that its paying unique user base had grown by 65% to reach 125,000, with ongoing subscriptions now accounting for 25% of revenues. During the course of the last six months the company extended its smart TV reach and launched on PlayStation as well a undergoing a site revamp. Last year, Okko introduced new thematic-based subscriptions.

Okko offers a mix of movies from the likes of Fox, Warner Bros, Paramount, Sony, Universal and Disney as well as Russian movies. The OTT TV service also provides Hollywood movies in 4K.