Broadcaster STV sees resilience in Scottish ad market

Scottish broadcaster STV Group has said it expects advertising revenue for the first quarter of 2019 to grow by 1% to 2%.

The firm said the growth reflects “increasing resilience in the advertising market”.

National advertising revenue is tipped to come in ahead of previous guidance, down 1% to 2%. While regional advertising is set to rise 20% to 25%, helped by STV’s partnerships with more than 130 Scottish advertisers.

Digital revenues are also expected to be up 15% to 20%, and STV said that its production business is performing in line with expectations and had secured by the end of the first quarter revenue equivalent to more than 60% of the total achieved in 2018.

Boss Simon Pitts said: “We have made a strong start to 2019, with TV and online viewing levels continuing their positive momentum from 2018 and total advertising revenue also growing, demonstrating STV’s increasing resilience in the advertising market even in an uncertain economic climate.

“Our STV Growth Fund goes from strength to strength, underpinning strong regional advertising sales and bringing new advertisers to television for the first time.”

The group also confirmed that Lindsay Dixon will take up her appointment as chief financial officer on May 21 as George Watt steps down from the board on Tuesday.

Advertisement