STV is setting viewing records on screen and online and it is now the most watched channel in Scotland, eclipsing the BBC during peak times and through the day – for the first time since 2006.
In a trading update ahead of its AGM yesterday, the broadcaster said advertising trends were continuing to improve with its first quarter total advertising revenue (TAR) 10% ahead of expectations.
It said STV-controlled advertising continued to outperform the wider market, with regional revenues up 12% in Q1.
Video on Demand (VoD) advertising on the STV Player was up 26% – delivering eight consecutive months of growth since last August.
STV’s record viewing performance continued into this year, with TV viewing up 12% in Q1 and STV now the most watched TV channel in Scotland.
Online viewing was up 73% and streams rose by 98%, with STV Player the fastest growing broadcaster streaming service in the UK. Content classified as STV Player-only made up 40% of all streams so far this year.
The broadcaster said the future outlook was bright, and STV expected its advertising revenue in May to be up by 65-80% as the advertising recovery continues.
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This would result in TAR between January and May rising by between 15% and 20% – putting revenue for the first five months of this year broadly in line with the same period in 2019.
STV said it also expected a strong commercial and viewing performance in June as the economy continues to re-open, with a strong programme schedule on TV and online.
This will include the start of the delayed Euro 2020 football championships where STV will broadcast more than 20 live and exclusive matches featuring both Scotland and England.
STV Studios remains on track to deliver its most successful year yet, with revenues of £20-25 million already secured for this year.
Chief executive Simon Pitts said: “It’s still relatively early days in the economic recovery but I’m encouraged by the strong start we’ve made to 2021, with advertising for the first five months of the year expected to return to 2019 levels and our excellent digital and production growth continuing.
“We’re setting more viewing records on screen and online, with TV viewing up 12% and STV Player viewing up 73% in Q1, the fastest growth of any UK broadcaster.
“STV-controlled Scottish advertising and digital advertising both continue to outperform the wider market, driven by our advertising Growth Fund and the success of our streaming service, STV Player, following its recent launch across the whole of the UK.”
Pitts added: “We have more to look forward to in 2021, with STV Studios on track to deliver its most successful year yet following a record 19 new commissions last year, as well as the exciting prospect of the delayed Euro 2020 football championships, with over 20 games live and exclusive on STV including both Scotland and England.”
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