STV Group plc (STVG) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

You all can hear well. You are very welcome. Thank you very much for joining us today. So in a moment, Lindsay and I will talk you through our results for the first half of 2024. We'll provide an update on our financial and strategic progress, as well as a sense of the outlook for the year. And as usual, we'll show you some on-screen highlights of shows that have been entertaining audiences on STV, as well as those we've been producing for other broadcasters and streamers in the UK and beyond. over the last six months. But first of all, let me hand over to STV's chair, Paul Reynolds, for some words of introduction. Paul. Thanks, Simon. Hello, everybody. So in today's results, I want to talk about STV's strong performance for the first half of 2024, and about the leadership changes for the group. As you know, we continue to operate against quite a challenging macro economic backdrop, which has led to difficult market conditions in both advertising and programme commissioning. But despite this, I'm pleased that we've grown the business in each of our divisions of broadcasting, streaming and production. The fact is we are now a much more balanced business, thanks to the diversification strategy that's been implemented over the last few years. This was designed to make us more resilient and to be able to navigate difficult times, and so it's proven. We've been helped this year, I think, this is the first half by some early signs of improvements in the market conditions and from the boost of the Euros 24 football tournament, which has flowed through to revenues and viewing shares. And in studios, we're a much broader mixed ecology in the enlarged studio business, and that's allowed us to benefit from more returning series as well as winning high profile commissions. And t...