STV has come out with a strong set of figures to mark its fiscal performance over the first half of the year, registering a 6% increase in total advertising revenue across national, regional and digital.
The strong performance was once again driven by digital where revenues rose by 24%, with video on demand revenue growth hitting 61%, all of which served to send total revenue up by 6% thanks to across the board growth.
STV is still in process of implementing its strategic growth plan with a new divisional structure and key leadership team already in place
Chief executive officer Simon Pitts commented: "Total advertising revenue is up 6%, on the back of STV's strongest viewing performance since 2009 and a 73% increase in online viewing via STV Player, fueled by the World Cup, drama box sets and the soaps.”
Yesterday STV reached a four-year agreement with Virgin Media to prioritise regional programming for cable viewers.