Gazprom Media has announced it will establish a Common Service Center, which will gradually bring together the main support functions of the Holding’s companies on one platform. This project is planned to be carried out between 2021 and 2022.
The Common Service Center will be the only service company for all Gazprom Media assets, and it will handle a range of basic service functions, including human resources, accounting and taxation, IT support, administrative assistance, purchases and others. The scope and nature of the functions may differ depending on the particularities of each business asset. The main objective of this business model is to increase the efficiency, transparency and manageability of business processes and workflow; unify and standardize all supporting services; and create a single base for service tasks.
“The global macroeconomic situation, caused in part by the pandemic, requires companies that are focused on further growth and development to undertake a qualitative transformation. The media industry is currently facing serious pressure from increasing interindustry competition, declining revenues from traditional business models, and the need to restructure their business based on a digital model and introduce new technological solutions. The creation of the Common Service Center is part of our updated strategy, aimed, in part, at increasing operational efficiency and maximizing synergy. The main capital of our Holding is our creative team, while the content they create is the main fuel of our business. The successful implementation of the Common Service Center will help relieve the creative team from routine back-office tasks and give the managers of these assets the opportunity to concentrate on their main objectives: producing, marketing and promoting high-quality content in different genres, which will be in demand on all platforms among an audience of millions in Russia, as well as for consumers abroad,”
Alexander Zharov CEO of Gazprom-Media Holding
The Common Service Center will be created on the basis of Gazprom Media Partner, a subsidiary of Gazprom Media, with offices in Moscow. In the first stage, it will take on the service functions of the GPM Entertainment TV subholding, GPM Match subholding and the digital platforms. Other companies of the Holding will be gradually brought into the project throughout 2021.
Ekaterina Yurchenko, who was appointed general manager of Gazprom Media Partner, will oversee the implementation of the Common Service Center. She has had successful experience in establishing common service centers for companies in various industries, including Rosneft, Norilsk Nickel (Nornickel) and Magnit.
