Regional broadcaster STV is expected a mammoth boost to its total advertising revenue (TAR) in Q2 thanks to Euro 2024.
The continental football tournament is being jointly broadcast in STV, alongside BBC, which will contribute to an expected 15-20% increase in TAR.
Simon Pitts, STV Chief Executive, said: “STV continues to make strong strategic progress and remains on track to deliver its ambitious growth plans out to 2026.
Total advertising revenue grew 5% in Q1, in line with guidance, and there is good advertising momentum in Q2 which we expect to be up 15-20%, driven by Euro 2024.
STV Studios continues to perform strongly, securing major new orders from Netflix, Sky and Discovery in the first half despite the challenging commissioning environment, and is on track to hit target revenues of £140m in FY26.
We have a fantastic programming line-up for the rest of 2024, kicking off next week with live and exclusive coverage of the opening game of Euro 2024 between Germany and Scotland on STV and STV Player.”
FTSE 100
The UK's flagship share index, the FTSE 100, was up 22-points at 8,254 shortly after opening this morning.
Brent crude oil futures were down 0.04%, trading at $77.49 a barrel.
Companies reporting today
- B&M European Value Retail - Full Year Results
- discoverIE Group - Full Year Results
- Ninety One - Full Year Results
- Paragon Banking Group - Half Year Results
- WH Smith - Trading Statement
- Workspace Group - Full Year Results