STV Group H1 2026 revenue drops 27% amid Studios slowdown

STV Group reported a sharp decline in first-half 2026 revenue, falling 27% year-over-year to GBP 66 million, driven by a prolonged slowdown in STV Studios production and a GBP 25 million impairment charge. Adjusted operating profit declined 12% to GBP 5.9 million, though the operating margin improved to 9%, while adjusted EPS remained flat at 7.1 pence per share. Total advertising revenue reached GBP 48 million, a 5% year-over-year rise, buoyed by strong national ad market performance around the FIFA World Cup, which engaged 3 million Scots across STV and STV Player. Digital revenue grew 13% to over GBP 12 million, including the first contribution from STV Radio, which reached 139,000 weekly listeners and entered the top 10 commercial stations in Scotland. The radio platform also generated 21 million video views for its Football Podcast and 20 million across social channels, while STV Player saw its best six-month performance with over 40 million hours of content viewed, including record engagement during the World Cup.