STV revenues up

Scotland’s STV has reported a 5% increase in revenues to £56.2m, although income from its City TV channels was flat, according to the broadcaster’s latest financial report.

During the first six months of 2016, STV saw strong growth in revenue from digital services, with a 25% increase in income led by earnings from its STV Player service.

Operating profit before exceptional items amounted to £11.8m, up 13%, driven principally by the increase in regional sales revenues and the increase in digital profits.

According to STV, its core Channel 3 service has “continued to perform ahead of the Network and this is expected to continue in the second half of the year with a strong autumn schedule and improved Network performance”. But STV national airtime revenue is expected to be down 6% in Q3, resulting in a cumulative position from January to September of down 3%.The strong growth in the regional market during the first half is expected to continue, up 18% in Q3, with a cumulative position from January to end September up 20%.

CITY TV NETWORK
Meanwhile, its second “City TV” network, utilising local TV licences issued by Ofcom, is on course to reach 80% of Scottish households in early 2017 when three new licence areas (Aberdeen, Ayrshire and Dundee) are added to the network, which currently comprises of Glasgow and Edinburgh.