Tartan Army aren't only ones dreaming of success at World Cup... after £4m losses, so are STV
STV is pinning its hopes on a World Cup boost this summer after posting annual losses of £4million – down from a profit of more than £13million in the previous year.
The Glasgow-based broadcaster has endured a challenging period amid ‘rapidly changing’ trading conditions and it has had to impose cutbacks and job losses in a bid to get back on track.
But after unveiling its full-year results yesterday the company said it was hopeful Scotland’s participation in the World Cup in June will give the company a commercial lift as advertisers look to cash in on Steve Clarke’s side’s return to the global stage.
Upcoming shows from its production arm, STV Studios, include Channel 4 and Canal+’s drama series Army of Shadows, a second season of Apple’s Criminal Record, and the latest run of hit BBC police show Blue Lights.
STV unveiled a £5million savings programme in March 2024 and a further £3millon was identified six months ago, mainly via lay-offs.
But STV Group’s chief executive Rufus Radcliffe said the group was on track with its cost savings for 2026, in a move that would put the business on a ‘sustainable cost footing moving forward’.
The company was criticised over its plans to shake up its news output - cancelling a separate news service for the north of Scotland and cutting the amount of local news it shows.
STV News presenter Kelly-Ann Woodland
After initially saying it proposed to accept STV’s shake-up, communications regulator Ofcom recently said its final decision would now be made after May’s Holyrood election - not before Easter, as had been planned.
Mr Radcliffe said: ‘The Ofcom process needs to play out and we respect that process, but there is lots that we can be getting on with.
‘While we wait for Ofcom’s final verdict we can begin the plans to bring presentation and production into Glasgow.
‘Part of the news plan is also to accelerate digital news - that is where audiences are going to find their news.’
He told The Scotsman: ‘What we will be doing moving forward is offering a really strong STV news proposition both for linear and digital.
‘We will have journalists on the ground in Edinburgh, Glasgow, Dundee, Aberdeen and Inverness and the news proposition both on air and online will continue to be a compelling one.’
His comments came as the group reported a 6 per cent drop in full-year revenues, to £176.9million.
But the group swung to a ‘bottom line’ loss of £4millon, from a profit of £13.1million in 2024.
It will not be paying shareholders a dividend this year.
While the headline numbers were said to be in line with forecasts, shares fell about 6 per cent in morning trading yesterday.
STV is hoping Scotland's first World Cup qualification since 1998 will give the channel a commercial lift
The group said its studios division had continued to win commissions and deliver projects in a ‘difficult’ market, with 37 new commissions and recommissions in 2025, down from 51 the year before.
STV Player achieved its highest ever consumption with total viewing hours up 9 per cent to 75 million and registered daily active users up 10 per cent.
Meanwhile, STV Radio successfully launched as planned in January of this year, attracting new audiences and advertisers to the group.
Mr Radcliffe added: ‘Like all UK media owners and producers it’s been a tough trading environment with ongoing macro-economic uncertainty.
'That has put pressure on advertising and we’ve seen a softer commissioning market as well.
‘But we have acted quickly and focused on the levers that we can control.’
Mr Radcliffe said STV believes that ‘2026 offers reasons for optimism, including the Men’s Football World Cup, new advertiser product innovation, and major new scripted and unscripted deliveries for global streamers.’
STV’s plans to restructure its news service have been condemned by the Scottish Government, the leaders of the main parties at Holyrood, trade unions, and local politicians.
