Broadcaster STV records highest revenue, lowest debt and best viewing share since 2008
Scotland’s free-to-air broadcaster STV capped off an “exceptional” 2021 by recording its highest revenue, best viewing share and lowest level of debt since 2008.
The network registered a 35 per cent increase in revenue from two years ago, with a near 40 per cent operating profit.
Its chief executive also said the company dramatically slashed its debt to £300k from £17.5m in 2020, and heralded the investment of funds into different media.
STV recorded its strongest audience performances, with its viewing share remaining close to 20 per cent, while being the most watched channel during peak times also.
“2021 was an exceptional year of growth for STV”, said Simon Pitts, STV’s Chief Executive Officer.
He said it is “taking full advantage of the growth in video viewing” while its streaming service growing by 63 per cent.”
Pitts added that STV’s “social purpose agenda is now embedded right across the business, with the STV Children’s Appeal distributing £4.4m to families and young people living in poverty in 2021”. while also offering media training to 400 people from under-represented groups.
He added: “These are clearly very unsettling times with the war in Ukraine, and any business implications obviously pale into insignificance against the humanitarian cost. STV has no exposure to trading with Russia and that will remain the case.”