Latest news with #STVStudios
The Herald Scotland
3 days ago
- Business
- The Herald Scotland
Shares plunge in Glasgow-based STV amid profit warning
STV said its expectations for the third quarter are 'lower than anticipated due to the recent further deterioration in the advertising market'. Total advertising revenue for quarter three is now expected to be down by around 8% with July down about 20% against tough comparisons with last year when the final games of Euro 2024 took place. August and September are forecast to be 'broadly flat'. While advertising has come under pressure, productions arm STV Studios saw a 'significant' deterioration in the commissioning market late in the first half and early in the second half of the year. STV said the worsening conditions had 'impacted our unscripted labels with some projects in advanced development not being green-lit and some commissions being delated to 2026'. Chief executive Rufus Radcliffe said: 'The deteriorating macroeconomic backdrop continues to lower business confidence impacting both markets in which we operate. 'We're making good progress in combining and streamlining our broadcast and digital businesses into a new audience division, and launch plans for the creation of our radio station are going well, with key appointments made and infrastructure plans forging ahead. 'STV Studios delivery schedule for the remainder of 2025 has been impacted by the UK commissioning market, which has further weakened at the end of H1 and into the second half of the year. However, in addition to winning new and repeat business in H1, we have completed production on key titles with international appeal, including high-end drama Amadeus for Sky and a third series of Blue Lights for BBC One, with the second series of The Fortune Hotel airing on ITV and STV this summer - and our development pipeline is strong. Read more: 'We are proactively responding to market conditions through a combination of investing in targeted future growth initiatives aligned with our long-term strategy and identifying efficiency and cost saving opportunities across the business. 'There continues to be strong long-term growth potential within our business despite the short-term challenges, and we remain laser-focused on delivering on the strategic plan we outlined earlier this year." The update came shortly after Mr Radcliffe, who succeeded Simon Pitts as chief executive in November, set out a refreshed strategy for the group in May, under which it will target an operating profit of between £30 million and £35m by 2030. The strategy includes the launch of a new mainstream music radio station aimed at 35-54 year olds as part of a blueprint driven by 'two engines': a new audience division combining the company's broadcast and digital units, and STV Studios. As it launched the new strategy in May, STV warned that it expected total advertising revenue to fall by 18% in the second quarter compared with the same period the year before, when it benefited from the men's Euro 2024 international football championships. Total advertising revenue for the second was expected to be down 1% year-on-year. Further to Monday's update, group revenue at STV is now expected to be in a range from £165 million to £180m at an adjusted operating margin of around 7%, with £10m of the revenue range driven by updated guidance for STV Studios. Incremental cost savings of £750,000 have been identified, bringing the full-year target to £2.5m. The company said: 'We continue to assess the cost base in its entirety and expect to provide an update on further initiatives at our interim results, with further cost savings expected to be realised in FY26.' Shares closed down 24%, or 46p, at 145p.
Scotsman
4 days ago
- Business
- Scotsman
STV Group to slash costs after profit warning: shares fall by a fifth
'The deteriorating macroeconomic backdrop continues to lower business confidence impacting both markets in which we operate' – Rufus Radcliffe, CEO Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... STV Group is taking the axe to £2.5 million of costs this year, raising the spectre of possible job cuts, after a deterioration in the commissioning and advertising markets in recent months. The Glasgow-based broadcaster, which holds the Scottish Television and Grampian Television licences, warned investors that its full-year revenue and adjusted operating profit are now expected to be 'materially below consensus'. Shares tumbled by more than a fifth in early Monday trading. Advertisement Hide Ad Advertisement Hide Ad In a trading update ahead of September's results, the group said incremental cost savings of £750,000 have been identified bringing its 2025 target to £2.5m, compared with the £1.7m or so previously outlined. Rufus Radcliffe took up the post of chief executive at STV Group last November. 'We continue to assess the cost base in its entirety and expect to provide an update on further initiatives at our interim results, with further cost savings expected to be realised in 2026,' it added. At the firm's flagship studios business there has been a 'significant commissioning market deterioration' in recent months as the UK macroeconomic backdrop has worsened, STV warned. This has impacted its unscripted labels with some projects in advanced development not being green-lit and some commissions being delayed to next year. While STV Studios is developing an international business, most customers remain UK-based, the group noted, meaning the division has been 'disproportionately impacted' by the recent slowdown in the domestic market. The forward order book is now £54m, compared to £66m at the end of April. Advertisement Hide Ad Advertisement Hide Ad Rufus Radcliffe, chief executive of STV Group, said: 'The deteriorating macroeconomic backdrop continues to lower business confidence impacting both markets in which we operate. The Blue Lights drama came out of the STV Studios stable for the BBC. "We're making good progress in combining and streamlining our broadcast and digital businesses into a new audience division, and launch plans for the creation of our radio station are going well, with key appointments made and infrastructure plans forging ahead. 'STV Studios delivery schedule for the remainder of 2025 has been impacted by the UK commissioning market, which has further weakened at the end of [the first half] and into the second half of the year. However, in addition to winning new and repeat business in H1, we have completed production on key titles with international appeal, including high-end drama Amadeus for Sky and a third series of Blue Lights for BBC One, with the second series of The Fortune Hotel airing on ITV and STV this summer - and our development pipeline is strong.' He added: 'We are proactively responding to market conditions through a combination of investing in targeted future growth initiatives aligned with our long-term strategy and identifying efficiency and cost saving opportunities across the business. Advertisement Hide Ad Advertisement Hide Ad 'There continues to be strong long-term growth potential within our business despite the short-term challenges, and we remain laser focused on delivering on the strategic plan we outlined earlier this year.' The Hit List is one of the programmes to come out of the STV Studios business. Analysts at Panmure Liberum noted: 'The company has offset some pressure with immediate cost reductions and will guide on more in September. 'Looking further out we would expect to see the commissioning market pick up again and the successful studios business to gain the benefit as well as the expanded World Cup to provide a lift to advertising in 2026. The shares are likely to feel immediate significant pressure,' they added. In its update, STV said group revenue for the full year is expected to be in a range from £165m to £180m at an adjusted operating margin of about 7 per cent, with £10m of the revenue range driven by updated studios guidance. Advertisement Hide Ad Advertisement Hide Ad At the time of March's full-year results, the group said its 2024 performance demonstrated the 'benefits of diversification against a challenging market backdrop'. At the top line, revenues grew by 12 per cent, year on year, to £188m, driven by acquisition-related growth in the STV Studios business - responsible for the likes of Amadeus (Sky) and Blue Lights (BBC) - as well as Euros-related advertising during the year. The studios division racked up revenue growth of 26 per cent, to £84.1m, while adjusted operating profit rose 18 per cent to £6.1m. Digital sales - before commission - were up 8 per cent to £21.8m, while total advertising revenue was up 5 per cent before commission. It meant that group adjusted operating profit nudged up 3 per cent to £20.6m, with statutory operating profit more than doubling to £13.2m. A group adjusted operating margin of 11 per cent was slightly down on 2023, which had been expected, while the board proposed a final dividend of 7.4p, making a full-year payout of 11.3p per share, in line with 2023. Number one On the audience front, the group said STV and STV Player combined were still the 'clear number one' for commercial audiences in Scotland. It highlighted a 19 per cent share of total peak commercial audience in 2024 (versus Netflix at 13 per cent, Sky 10 per cent and Channel 4 to 6 per cent). STV was the most watched commercial channel in Scotland on 363 of the 366 days in the leap year of 2024, bosses noted. Advertisement Hide Ad Advertisement Hide Ad STV aired the best-watched quiz show (The 1% Club), drama (Mr Bates vs The Post Office), and soap opera (Coronation Street) across all channels in Scotland during 2024.
Glasgow Times
23-06-2025
- Entertainment
- Glasgow Times
New TV series lifts lid on Glasgow law firm's fight for families
That night, in 1991, changed his life. He successfully raised a civil action against the police, switched from mechanical engineering to law, and now heads up one of the UK's leading human rights law firms. Last year, he and his team in Glasgow pulled back the curtain on their day-to-day work for the docuseries, The Firm. Aamer Anwar (Image: STV Studios) Now, it's back on BBC Scotland for series two – slimmed down to just three episodes, this time, as Aamer and staff focus on representing victims whose cases speak directly to major societal issues. 'This series is more raw,' nods Aamer. 'The type of work we do is deeply traumatic for the families, and I think more of that comes across in this series. 'For some of them, the fight has been going on for a long, long time. I think what the show does is let people see the impact that has on the families. We can't get that across in a 30-second soundbite outside court. 'The show is a platform that raises awareness of their campaigns, gets their voices heard, shows the extent of the lies, obstruction and cynicism often faced in the fight for justice.' Aamer Anwar with the family of Katie Allan (Image: STV Studios) He adds: 'And, I think, it gives people hope that someone, at least, is listening.' The first episode, available on BBC iPlayer, focused on Margaret Caldwell, mother of murdered Glasgow woman Emma Caldwell, as she tries to secure a public inquiry into police handling of her daughter's murder. In 2024, Iain Packer was jailed for life with a minimum of 36 years for killing Emma and it emerged during his trial that Packer had been accused of rape and violent attacks on dozens of women as far back as 1990, but police had failed to act. (Image: PA) Episode two, on BBC Scotland tonight (June 24) sees Aamer set his sights on abolishing crown immunity laws which prevent institutions like the Scottish Prison Service being held criminally responsible for deaths in custody. The bereaved families of Katie Allan and William Lindsay, who both took their own lives at a young offenders' institution, talk to Aamer in a bid to pursue a major change in the law that could bring a degree of justice and possibly help to save lives in the future. The final episode in the series focuses on several asylum cases being handled by The Firm's immigration team. (Image: STV Studios) As well as a behind-the-scenes look at the tactical manoeuvres, setbacks and controversies involved in lengthy legal proceedings, The Firm, which is produced by STV Studios Factual, examines Aamer's personal motivations for taking on such challenging and unrelenting cases. 'People ask us how we can keep going but the answer is that we get inspiration from these families,' says Aamer. 'The people we feature in this series are inspirational, especially the mothers. Mothers are a force of nature. They never give up.' He adds: 'This series will show you the families we are honoured to work with, who symbolise what justice should be about, not a gentleman's club, not the vanity of wigs and gowns, but ordinary people who demand justice as a right and not a privilege. 'No lawyer should ever be afraid to raise their voice for the truth and I hope The Firm shows that is exactly what we fight to do.' All episodes of The Firm are available to stream now on BBC iPlayer and the series continues tonight at 9pm on BBC Scotland.
BBC News
06-05-2025
- Entertainment
- BBC News
The Troops drills down into life inside The Royal Regiment of Scotland in new docuseries for BBC Scotland and BBC iPlayer
The British Army's most deployed infantry unit, The Royal Regiment of Scotland, is set to open its barracks to TV cameras for the first time as part of a new limited docuseries for BBC Scotland and BBC iPlayer. Set against the backdrop of ongoing geopolitical uncertainty, The Troops, produced by STV Studios Factual, will take viewers to the front line of modern soldiering and paint an illuminating, multifaceted picture of what it means to serve in the British Army in 2025. The 3 x 60' series will have unprecedented access to the regiment and cover everything from life on the barracks to large-scale overseas military exercises, as soldiers and officers move towards the realities of conflict – the likes of which haven't been seen for a generation. This character-led series will also shine a light on the relatable challenges the soldiers face in their private lives, and explore how they juggle their tough, high-octane military careers with family life on the barracks and at home. The Troops is produced by STV Studios Factual for BBC Scotland and BBC iPlayer. It is commissioned by Louise Thornton, BBC Scotland's Head of Multiplatform Commissioning, and David Harron, Factual Commissioning Executive. Executive Producers are Craig Hunter, Creative Director of STV Studios Factual, and Rosy Marshall-McCrae. The Series Producer is Abby Herron. The Troops was developed by Lucy Hazzard, Director of Development at STV Studios Factual, and James Burrough. David Harron, Factual Commissioning Executive, BBC Scotland, says: 'This series will give audiences rare and fascinating insights into the world of military service, by following the stories of the men and women in one of Scotland's famous regiments. The Troops is the latest in a long line of observational documentary series from BBC Scotland which compellingly explore different aspects of contemporary Scotland.' Craig Hunter, Executive Producer and Creative Director of STV Studios Factual, says: 'Our series will reveal the personal and professional lives of the men and women behind the uniform. Merging the challenges of home life with modern day soldiering, we'll follow a cast of characters facing some of the toughest working environments in the world. 'The Troops will move beyond the drills and the weapons training to accurately reflect the personalities, commitment and ambitions of an eclectic group of soldiers who could be deployed at any moment.' JG2
STV News
24-04-2025
- Entertainment
- STV News
It was unwise to think I could easily cross the Bridge of Lies
It's all very well sitting on your sofa shouting quiz answers at the TV. But it is quite a different beast being up there, testing your own general knowledge in front of telly hardman Ross Kemp. I was lucky enough to be recently asked along to a behind-the-scenes visit to the set of quiz show Bridge of Lies. As I routinely sit in disbelief watching contestants get simple answers wrong, I thought 'this is going to be a piece of cake'. How wrong I was…The set looked even more dramatic in person, with the iconic bridge looming under intense lighting. The intensity was real from the moment I walked into the studio. The buzzing cameras, the dramatic music, it was just like it looks on TV, but ten times more immersive in person. And at the centre of it all was host Ross Kemp – every bit as intense and focused as you would expect. His presence alone could make your pulse spike. I was put in a team of five to complete the final bridge. When Ross called my name, I stepped forward. Then came the three statements I had to face: Miley Cyrus is older than Taylor Swift Levi Strauss designed the small jean pocket to hold a watch The River Exe flows through the Wye Valley The format is simple but deceptive: three statements, one correct step forward at a time. But under pressure, with studio lights blazing and all the production staff's eyes on you, even the most confident answers can feel uncertain. I chose the first statement, believing Miley Cyrus was older than Taylor Swift. I took a step forward and was met with a red light. Incorrect. The bridge had beaten me. Of course, I knew the correct answer, in hindsight, but the pressure got to me. I'll be honest, it stung. I was gutted. But weirdly, I was also buzzing. The rush of stepping out there, the challenge, the drama – it was brilliant. Kemp, best known for his acting and hard-hitting documentary work, brings an unmistakable energy to the show. In person, he's completely in command of the room. But what really struck me was how genuinely warm and lovely he was off-camera. Despite the intense atmosphere he helps create on-screen, he made time for us, and his support behind the scenes helped calm the nerves of many contestants, myself included, and made the entire experience more enjoyable. He even welled up talking to me about a contestant who was now able to buy Christmas presents for her children after her success on the show. Behind the scenes, the show runs like clockwork. Every camera movement, lighting change, and sound cue is timed to perfection. It gave me a whole new appreciation for the scale and effort involved in producing what viewers see at home. Was being on Bridge of Lies scary? Absolutely. Nerve-wracking? Without question. I may not have made it across the bridge. But I walked away with a good story to tell, and I also have a lot more sympathy for those poor contestants that I used to shout at on my TV at home. Bridge of Lies and Celebrity Bridge of Lies are both produced by STV Studios and commissioned by the BBC. Celebrity Bridge of Lies returns to BBC One and iPlayer for a brand new series on Saturday, May 3. Get all the latest news from around the country Follow STV News Scan the QR code on your mobile device for all the latest news from around the country
