STV says advertising revenue ‘on target’, as it announces new quiz show commission

THE broadcasting and digital company, STV Group plc, has said it’s national advertising revenues – up six per cent during the year up to yesterday – are in line with market expectations.

It follows the publication, this morning, of an interim management statement for the period August 21 to yesterday.

Says the statement: “In the year-to-date to end of Q3, national advertising revenues were in line with expectations, up six per cent. Looking ahead, in the year-to-date to end of November national advertising revenues are expected to continue ahead of the market, up five per cent. Regional airtime revenues were up four per cent at the end of Q3 and are expected to be up five per cent in the year-to-date to end of November.”

It continues: “STV’s digital business continues to grow with growth digital revenues performing strongly and expected to be up 21 per cent in the year-to-date to end of November.

“During the period new digital services targeted at consumers in Scotland’s largest cities have been successfully launched. These mark the next generation of STV’s digital services and reinforce the commitment to serve local audiences across Scotland.”

The group also used the statement to announce its production arm had secured a new commission, the Lie, to be co-produced with GroupM Entertainment for Irish broadcaster, TV3. Production of 16 episodes of the show begins in December.

The statement quotes Rob Woodward, chief executive officer of STV Group plc, as saying: “We remain on track to achieve our growth targets in 2013 and continue to make strong progress in delivery of our strategy to grow non-broadcast earnings. Our digital growth ambitions are supported by the successful launch earlier this month of new city-based digital services creating new opportunities for our commercial partners. STV Productions continues to secure new commissions across genres and today’s commissioning announcement demonstrates our growing credentials in entertainment programming.”

Pic: Graeme Hunter.