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STV sees first-quarter advertising revenue rising 1-2%

Tuesday, 23rd April 2019
Scottish broadcaster STV Group said it expected to post a rise in first-quarter advertising revenue of between 1% and 2%.

The increasing for the three months through May included revenue across national, regional and digital and reflected the company's 'increasing resilience in the advertising market', STV said.

Within the guidance, national advertising revenue was expected to be ahead of previous guidance by falling by between 1% and 2%.

Regional advertising was continuing to perform strongly, up 20% to 25%, driven by the STV Growth Fund, which had now partnered with more than 130 Scottish advertisers.

Digital revenues were expected to be up 15%-to-20%, reflecting continued strong growth from the STV Player.

The production business continued to perform in line with expectations, with revenues secured by end of the first quarter now equivalent to over 60% of the total achieved in 2018.

'We have made a strong start to 2019, with TV and online viewing levels continuing their positive momentum from 2018 and total advertising revenue also growing, demonstrating STV's increasing resilience in the advertising market even in an uncertain economic climate,' chief executive Simon Pitts said.

'Our STV Growth Fund goes from strength to strength, underpinning strong regional advertising sales and bringing new advertisers to television for the first time.'

'We are immensely proud of our new Scottish drama series - The Victim - which aired on BBC1 earlier this month to huge critical and popular acclaim and represents just the sort of landmark programming we want to do more of in future.'






Story provided by StockMarketWire.com

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