Business
STV on track for record year in advertising
STV on track for record year in advertising.
About this update from Stv Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1109U\n STV Group PLC\n 01 December 2021\n \n \n \n \n \n 1 December 2021\n \n \n STV Group PLC\n \n \n Trading Update\n \n \n STV on track for record year in advertising\n \n \n \n \n \n \n · \n \n \n Total advertising revenue for the full year 2021 up 22-24% on 2020\n \n \n \n \n · \n \n \n Q4 performance stronger than expected, despite tough comparators\n \n \n \n \n · \n \n \n Successful STV Growth Fund increased to £30m to boost Scotland's recovery in 2022\n \n \n \n \n \n \n · \n STV Group plc today announces that it expects Total Advertising Revenue (TAR) to be up 22-24% for the year ending 31 December 2021, delivering its highest ever advertising revenues and growth of over 10% compared to financial year 2019.\n \n \n \n \n \n · \n Within that STV expects regional advertising to finish the year strongly, up around 20% for 2021, despite only dropping 5% during 2020 when the pandemic was at its height, and 15% ahead of 2019. \n \n \n \n \n \n · \n VOD advertising on the STV Player is expected to be up 35-40% for the full year, over 50% ahead of 2019 levels.\n \n \n \n \n \n · \n STV delivered a 9-month TAR of +28% (guidance: +25-30%) and a Q3 TAR of +22% (guidance: +20-25%). Within that regional advertising was up 13% in Q3 (guidance: +10-15%) and Q3 VOD advertising was +44% (guidance: +40-45%).\n \n \n \n \n \n · \n Q4 advertising has shown continued good momentum, despite strong comparators from Q4 2020, and is expected to deliver TAR growth of +13-15%, with regional advertising up a further 15-20% and VOD up around 10%. Within that October TAR was +15%, November +20% and December is expected to be up 5-10%.\n \n \n \n \n \n · \n Additionally, STV announces that the STV Growth Fund will be increased from £20m to £30m in 2022. Since launch in 2018, the STV Growth Fund has allocated £15.7m across more than 700 deals with Scottish SMEs, attracting over 300 new advertisers to television.\n \n \n \n \n \n · \n Previous guidance that STV Studios is on track for its best ever financial performance in 2021, with full year revenue of £20-25m, is reconfirmed today.\n \n \n \n \n \n STV Chief Executive Simon Pitts said:\n \n \n \n \n \n \"The speed and scale of the advertising recovery in 2021 has far exceeded our expectatio...