STV sees growth in advertising revenue
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ThE MaStEr
2010-10-21
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STV sees growth in advertising revenue
Thursday, October 21 2010,
BroadcastingScottish broadcaster STV has reported a "sustained improvement" in television advertising revenue in the second half of the year.
In an interim management statement published today, STV said that ad revenue was up 10% year-on-year over the third quarter from August 26 to October 21.
The broadcaster said that growth in October was up by as much as 20% year-on-year, while November is expected to see a 10% boost.
"The improved market conditions evident during the first half of the year have continued to prevail and trading in the third quarter reflects the general improvement in the airtime market and the continuing delivery of our digital strategy," said STV chief executive Rob Woodward.
STV also said that its STV Local network of hyper-local websites is on track to cover around 25% of the Scottish population by the end the fourth quarter, after it launched in September.
"We are delivering performance growth across all areas of the business and, during the period, we have launched a successful pilot of STV Local," said Woodward.
"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 chairman Richard Findlay added: "Whilst 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."
STV further said that there has been "no change" in the status of its legal disputes with ITV over video on-demand rights and alleged airtime sales debt.
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