STV airtime revenue up 10% in Q3

Airtime revenue at STV Group, the channel three licensee in Scotland, was up 10% year on year in quarter three, reflecting the general improvement in the TV advertising market.

STV: airtime revenue up 10% in Q3
STV: airtime revenue up 10% in Q3

In an interim management statement STV said the positive outlook will continue into October and November and predicted year-on-year revenue growth of 15% to 20% and 5% to 10% respectively.

STV Local, the network of hyper local websites which launched in September, is targeted to cover around 25% of the Scottish population by the end of quarter four.

Rob Woodward, chief executive officer, said: "The improved market conditions evident during the first half of the year have continued to prevail. We are delivering performance growth across all areas of the business.

"This initiative forms a key part of our digital strategy to become the leading provider of local online services in Scotland and we will now roll this out more widely across other areas of the country."

STV also said has been no change in the status of the litigation between STV and ITV plc and ITV Network since the last update. .

Richard Findlay, chairman of STV, said: "While the longer term macro-economic outlook is uncertain, we are continuing to deliver growth across the business and achieve targeted levels of traffic to our digital platforms."

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