Business
AGM Trading Update for Q1
AGM Trading Update for Q1.
About this update from Stv Group Plc
[{"type":"text","content":"\n \nRNS Number : 7076W STV Group PLC 23 April 2019 \n\n \n \n \nPress Release Press Release Press Release\n \nAGM Trading Update for Q1\nPositive momentum in line with expectations\n \n 23 April 2019\n \nThe following trading update will be provided to shareholders at the Company's Annual General Meeting to be held at 11am today.\n \nBusiness performance continues in line with expectations and the guidance in the previous trading update of 28 February 2019. Trading to the end of May 2019 is expected to be as follows:\n \n· Total advertising revenue across national, regional and digital is expected to be up 1% to 2%, reflecting STV's increasing resilience in the advertising market\n \n· Within that, we expect national advertising revenue to be ahead of previous guidance, down 1% to 2%\n \n· Regional advertising is continuing to perform strongly, up 20% to 25% driven by the on-going success of the STV Growth Fund which has now partnered with more than 130 Scottish advertisers, over half of whom are new to TV\n \n· Digital revenues are also expected to be up 15% to 20% reflecting continued strong growth from the STV Player\n \n· STV's Production business continues to perform in line with expectations with revenues secured by end of Q1 now equivalent to over 60% of the total achieved in 2018.\n \nBroadcast \nAdvertising revenue performance is underpinned by a strong viewing performance, with STV peak time viewing share in Q1 2019 in line with last year's very strong Q1 and all time viewing share up a further 4%. STV's 2018 viewing performance was its best in a decade and this strong performance has continued in Q1 2019 with share gains across all key demographics.\n \nDigital \nSTV Player continues to grow strongly, with online viewing up 20% and streams up 28% in Q1 driven by hit dramas like Manhunt, Cheat and The Bay.\n \nProduction\nProduction had secured over 60% of its 2018 revenues by the end of Q1 2019, including a number of re-commissioned series. This includes the...