STV boss: Scots watch a lot of TV – and that's good for our finances

 
Oliver Gill
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Family favourite Catchphrase is produced by STV (Source: STV)

Listed broadcaster STV is hoping the fact Scots watch more TV than the rest of the country will help it in a battle against shrinking advertising revenues.

The average Briton consumes three hours 40 minutes of TV each day, STV said. This compares with four hours a day watched north of the border.

STV, which operates in place of ITV in Scotland, today posted a three per cent fall in revenues to £117m. Earnings slipped four per cent to £21.5m. Dividends rose 13 per cent to 17p a share.

Read more: STV nabs top ITV exec as new boss

New boss Simon Pitts told City A.M. Netflix and Amazon still only accounts for around five per cent of TV viewing, adding:

And on top of that, Scots watch on average 10 per cent more TV than the rest of the UK. They love TV, you never know it might have something to do with the weather and on a day like today, that’s probably a factor.

Pitts said STV said football’s World Cup in Russia could provide a big boost to its finances.

“In a year like this year, it can help tip us into positive territory, which is a very welcome thing,” he said.

STV shares rose over three per cent in trading to 370p.

Read more: Hedgies on the hunt for £15 a share as Sky bidding war hots up

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