STV Group (STVG) Trading Update summary

Trading performance and revenue

• Performance remains in line with market expectations despite challenging advertising and commissioning conditions.

• Q3 Total Advertising Revenue (TAR) before commission rose 5%, ahead of guidance.

• Q4 TAR is expected to decline by around 10% due to strong comparators, including the Rugby World Cup.

• Full year 2024 TAR before commission is forecast to increase by 2-3%.

STV Studios and content

• STV Studios maintains strong performance with a forward orderbook of £92m as of 31 October.

• Revenue of £24m delivered and £15m in new commissions won since end of July.

• Recent commissions include a second series of "Criminal Record" for Apple TV+ and two new original formats for Crackit TV.

Digital and streaming

• STV Player continues to expand content, now exclusively streaming "Red Rock" in the UK.

• "Red Rock" has delivered 2 million hours of viewing since mid-September, becoming the platform's top title after soaps.