Scotland’s premier TV station STV had a slight dip in advertising revenue from 2021’s record year, but it’s still up on pre-pandemic.
The broadcaster said its intake from ads was only two per cent down on last year, and eight per cent up on 2019.
its total ad revenue was three per cent down in the last nine months, and took a particular hit in the third quarter, at -17 per cent, as economic chaos led to less advertisement.
However, STV, boosted by showing popular shows like I’m a Celebrity Get Me Out of Here and the World Cup in Qatar, had a slight improvement. It is set to be down one per cent, but November and December will be up, three and six per cent respectively.
STV chief executive Simon Pitts said it “has performed strongly in 2022 with advertising revenues expected to finish only two per cent behind 2021’s record performance”.
“While we remain mindful of the ongoing macroeconomic uncertainty, we are becoming a more resilient and diversified business that is well placed to take advantage of the growth in demand for streaming and global content.”
He added that a “recently announced partnership with ITV significantly strengthens our STV Player content and advertising proposition, while STV Studios continues to make great progress towards its goal of becoming the UK’s leading nations and regions production company.”