Rufus Radcliffe – CEO of STV Group

Despite meeting these broader financial expectations, the broadcaster navigated a difficult commercial environment, as Total Advertising Revenue (TAR) fell approximately 10 per cent year-on-year for both the fourth quarter and the full year.

Management attributes this decline to a persistent and challenging macroeconomic climate, a trend that has extended into the early months of 2026. However, the group remains optimistic that the upcoming 2026 FIFA World Cup will provide a vital stimulus for advertisers and viewers alike. To ensure financial stability, the year-end net debt position is expected to be at the lower end of the £45m to £50m range. Furthermore, the company is implementing measures to deliver a £2.5m cost reduction in 2026, a figure incremental to previously announced targets.

On the production front, STV Studios closed the year with an order book of £33m, a decrease from August’s £40m figure following the delivery of programmes. Notably, there have been no notified cancellations despite subdued activity across the wider sector. The group also successfully launched STV Radio in January, garnering an early positive response from both audiences and the commercial market.

Chief Executive Rufus Radcliffe affirmed that the company is on track to realise its cost-saving targets to protect profitability. He noted: “The macro-uncertainty of H2 2025 has continued into early 2026 with subdued advertising and commissioning markets persisting.”

He added: “Our award-winning Studios team continues to feed a strong pipeline of new potential projects alongside delivery of returning series; and our new growth venture, STV Radio, is off to a promising start. We are also exploring the strategic options that are emerging given the rapidly evolving media landscape.”

Full results for the year ended 31 December 2025 will be announced on 17 March 2026.