STV sees ad revenue grow by 6 per cent for first three quarters of 2013
STV has announced a 6 per cent increase in advertising revenue for the first three quarters of 2013, with a growth of 21 per cent for its digital business, it has revealed.
The Scottish broadcaster has released its financial figures for August to October, and revealed that it expected advertising revenue to be ahead of the market, up by five per cent, with regional airtime revenue up by four per cent for the year so far also.
Looking forward, it also forecast digital revenue up by 21 per cent at the end of November, with advertising still ahead by 5 per cent.
Rob Woodward, CEO of STV Group plc, said: “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.”
The company has also announced that it has been commissioned for 16 episodes of a new quiz show called ‘The Lie’, to be produced with GroupM Entertainment for Irish broadcaster TV3, beginning in December, while 12 more episodes for the second series of Catchphrase and a one-off documentary for Channel 5, Pothole Britain, are also in the works.