STV reveals ‘positive’ start to 2013 in trading update
STV has said it has made a ‘positive’ start to 2013 in its management statement for the first quarter with January to May airtime revenues rising by two per cent, although this figure for the full year is expected to remain flat.
Digital revenues meanwhile grew by 20 per cent over the January to May period, fuelled by growth in VOD, display and classified adverts.
This comes during an interesting period for the broadcaster which was awarded a new local TV license in January for Glasgow and Edinburgh, a move which dovetails with an ongoing Ofcom consultation into the renewal of its channel 3 license.
Rob Woodward, chief executive officer of STV Group plc, said: “During Q1 we have achieved sustained growth in our digital services, with double digit growth in digital revenues, building on the success delivered in 2012.
“STV Productions has continued to announce new commissions in the period and continues to build a strong pipeline of commissions and prospects for future growth. We are delighted about the very strong ratings being achieved by Catchphrase, our latest commission from ITV.”