STV advertising revenue grows by a third thanks to Euros boost
STV has posted a further rise in advertising revenue for the first half of the year as Euro 2020 coverage helped the Scottish broadcaster continue a recent run of good form.
The network, which holds the channel 3 licence north of the border, said total ad revenue grew 32 per cent to the end of June on the same period last year.
The figures also marked a five per cent increase on the first half of 2019, pre-Covid.
STV was given a strong boost in June by its coverage of the Euros, with England’s clash against Scotland bringing in the channel’s highest ever peaktime audience of 1.94m.
Total streams across the tournament on STV Player were 3.9m — 70 per cent higher than during the 2018 World Cup — while June streams overall were up 163 per cent.
The company said it expected ad revenue to rise between 35 and 45 per cent year on year in July, boosted by more Euros coverage and the further easing of lockdown measures.
STV has been doubling down on its digital output and production facilities amid a steady decline in traditional TV advertising.
The London-listed firm said video on-demand advertising on STV Player was up 62 per cent in the first half, with regional ads continuing to outperform the wider market.
In a further boost to its digital prospects, STV today also unveiled a major deal with French production giant Banijay.
The deal with Banijay Rights will bring more than 1,200 hours of new drama and factual programming — including Scandi-noir thriller Beck and French murder mystery Malaterra — to STV Player over the next 12 months.
STV said its production division had continued to perform strongly, recently securing The Bridge of Lies, a new 25-episode quiz show for BBC1 hosted by Ross Kemp.
STV Studios has already secured revenue of between £20m and £25m in 2021 and remains on track for its best ever year, the company added.
Chief executive Simon Pitts hailed an “excellent start” to the year, adding that the Euros had “lifted spirits, broken hearts and delivered a record viewing and commercial performance for STV”.