STV Group PLC
- Market Cap (£m) 84.3
- Listing LSE
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Analysts
Company Description
STV, based in Glasgow, is the leading commercial broadcaster in Scotland, with long-term agreements in place covering network programming supply and advertising sales with ITV. The business is diversifying into streaming, where it owns the STV Player, and content, where STV Studios produces TV programmes for other broadcasters and streaming groups.
Investment Summary
STV Group is diversifying from its core broadcasting business through rapid growth in streaming and content (together expected to deliver half of group profits by the end of 2023). In streaming STV owns the STV Player, which is the leading AVOD (advertising-financed video on demand) platform in Scotland. Nearly half of streams on the Player now relate to STV-owned content, and an influx of new premiere content following a partnership deal with ITV should provide further impetus. In content, STV Studios has shown breakout growth in recent years, growing revenues sixfold in three years driven by reorganisation and talent recruitment, leading to a slew of new commissions from broadcasters and new streaming customers. The core broadcast division is mature (as TV viewing migrates gradually to digital) but remains resilient, underpinned by clear leadership in delivering quality mass reach for advertisers as well as a uniquely variable cost structure. We forecast good growth for the overall group as it continues to diversify towards streaming and content.
Recent Content
Strategic progress in tough ad markets
05/09/2023 STV Group PLC
STV’s H1 results confirm a picture of continuing uncertainty in the UK economy and advertising markets (albeit Q3 […]
Transformative acquisition for STV Studios
06/07/2023 STV Group PLC
STV is broadly doubling the size of its Studios division with the acquisition of production business Greenbird Media […]
Continuing operational momentum
26/04/2023 STV Group PLC
Several recent announcements highlight that STV is continuing to execute its diversification strategy effectively, even in a tough […]
Resilience from diversification
07/03/2023 STV Group PLC
STV Group’s FY22 results and FY23E outlook, announced this morning, are in line with expectations. The resilient performance […]
Towards streaming and content
07/02/2023 STV Group PLC
STV continues to be viewed as a mature broadcaster, yet it is transforming into a growing streaming and […]
Company Management Team
Simon Pitts
Chief Executive
Appointed to the Board in January 2018, Simon set out a growth strategy to transform STV into a digital streaming and IP-led media business. After a period of consistent growth, STV posted record financial results in 2021. Previously, Simon was on ITV’s executive board as Managing Director, Online, Pay TV, Interactive & Technology. Over a 17-year career there, he held a range of senior roles and, as Director of Strategy, was one of the main architects of the company’s strategic transformation under Archie Norman and Adam Crozier. Simon was on the board of ITN for eight years and prior to ITV, worked in the European Parliament. He is Vice Chair of the Royal Television Society and trustee of the STV Children’s Appeal and of pre-school literary charity Oscar’s Book Prize.
Lindsay Dixon
Chief Financial Officer
Appointed to the Board in May 2019, Lindsay is a Chartered Accountant with extensive commercial experience gained across a range of sectors covering the FTSE 100, 250 and large private companies. Previously, Lindsay held the role of Group Financial Controller at William Grant & Sons Limited and prior to that was Group Financial Controller of The Weir Group plc. In addition to her core financial responsibilities, she has wide ranging M&A, investor relations and international experience. Lindsay qualified with Deloitte in 2002.
