23rd Apr 2014 10:04
LONDON (Alliance News) - STV Group PLC said Wednesday that it had traded in line with expectations during the first quarter of 2014, as it continued on track to fulfil its target of having one third of its earnings from non-broadcast services by the end of 2015.
STV said total airtime revenues were slightly ahead of expectations in the quarter ended March 31, up 5% compared to the previous year. It expects total airtime revenues to be up by 18% in April, and by 4% in May.
Digital growth revenues were up 15% during the quarter STV said, and are expected to be up by 15% to 20% for the full year.
The broadcaster said it will be launching a new city television channel for Glasgow, called STV Glasgow, on June 2. It will launch a second service in Edinburgh during the year.
STV Productions continued to grow in line with expectations, STV said, driven by work on 'Antiques Road Trip', 'Celebrity Antiques Road Trip' and 'Catchphrase', and new commissions 'The Link' and 'Let Me Entertain You'.
Shares in STV were trading up 2.5% at 369.00 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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