4th Nov 2020 16:07
STV Group PLC - Scottish media firm - Says advertising revenue improved "materially" over the third quarter and start of the fourth quarter, though notes its outlook remains uncertain. Third quarter advertising revenue was down 4% year on year, with October only down 2%. Total advertising revenue from January to October is down 13%. Also notes its highest ever TV audience audience growth, rising 13% in January to October.
"2020 has underscored both the loyalty of our viewers and the resilience of our business. We've seen record growth in audiences across the whole of 2020 so far, not just during lockdown, with TV viewing up 13% and online viewing up 82%," Chief Executive Simon Pitts said.
He added: "We remain confident in our prospects for growth, and look forward to finishing the year strongly on screen with November traditionally our biggest month of the year thanks to the return of I'm a Celebrity; while in STV Studios our 14 new commissions so far this year means that 2021 promises to be our most successful year yet."
Current stock price: 260.00 pence
Year-to-date change: down 38%
By Paul McGowan; [email protected]
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