Broadcaster STV records highest revenue, lowest debt and best viewing share since 2008

0

Thursday, March 10, 2022 8:15 a.m.

STV boss Simon Pitts has launched a fierce defense of public service broadcasters (Image: STV/Peter Devlin)

Scottish free-to-air broadcaster STV capped off an “outstanding” year in 2021 by recording its highest revenue, best audience share and lowest level of debt since 2008.

The network saw a 35% increase in revenue from two years ago, with an operating profit of nearly 40%.

Its chief executive also said the company had significantly reduced its debt to £300,000 from £17.5m in 2020, and announced the investment of funds in various media outlets.

STV recorded its best audience performance, its audience share remaining close to 20 per cent, while also being the most watched channel at peak times.

“2021 has been a year of exceptional growth for STV,” said Simon Pitts, Managing Director of STV.

He said he was “fully benefiting from the growth in video viewing” while his streaming service grew by 63%.”

Pitts added that “STV’s social purpose program is now integrated across the business, with STV’s Children’s Appeal distributing £4.4 million to families and young people living in poverty in 2021. “. while providing media training to 400 people from underrepresented groups.

He added: “We are clearly living in very troubling times with the war in Ukraine, and any commercial implications are clearly insignificant compared to the humanitarian cost. STV is not exposed to trade with Russia and will remain so.

Share.

About Author

Comments are closed.