STV announces new ‘Wallace’ production in trading update
STV Chairman Richard Findlay will declare that his company has made an “encouraging” start to the year when he delivers an interim trading statement to shareholders today.
Over the first quarter STV’s airtime revenues declined by 3% with a 6% decline in the national market offset by a 12% uptick in the regional sector year on year.
This picture of a flat market is expected to continue through April before May brings some forward momentum.
The results follow the recent agreement of new networking arrangements with ITV, which will see STV become an affiliate of the Channel 3 Network.
STV will also announce that its Productions arm has commissioned a further 20 episodes of Celebrity Antiques Road Trip for BBC Two, as well as a new panel show pilot, Fake Reaction, for BBC Three. The broadcaster is also to confirm that it will produce a new historical drama series called Wallace.
A further raft of city specific sites will also be launched, adding to the suite of sites on offer by STV Local.
Rob Woodward, Chief Executive Officer of STV Group plc, said: “We are making good progress across our strategic growth areas and we have recently confirmed the agreement of new networking arrangements with ITV. At this early stage of the year, STV Productions is performing well and has secured further commissions. In addition, our digital services continue to deliver strong growth. At the beginning of next month we will launch our new look STV City sites in Glasgow and Edinburgh.”