STV’s national ad revenue declines by 3%
STV has reported a decline in its national ad revenue of 3%, although digital revenues, encompassing video on demand, display advertising, classified ads and transactional activities are up by a whopping 70%.
The decline in ad revenue was in line with expectations but the broadcaster expects a slight improvement through the critical November and December market.
Rob Woodward, Chief Executive Officer of STV Group plc, said: "We remain on track to achieve our growth targets in 2012 and continue to make strong progress in delivery of our strategy to grow non-broadcast earnings.
“The succession of commissions secured by STV Productions from an increasing range of channels demonstrates the progress we’re making in growing our content business. This combines with a sustained improvement in operating margins in our broadcast and digital businesses as we deepen our engagement with consumers across an increasing range of platforms."
STV’s interim management statement covers the period from 24 August to 14 November, a period which has seen the broadcaster commission a new eight part production, Fake Reaction, in collaboration with Kinetic Content.