STV saw its figures slump in the year of Covid with the pause in filming because of the pandemic hitting revenue from its studios division by 36%.

The broadcaster’s total advertising revenue was down by a tenth, with STV-controlled regional advertising down by 5%. It said operating profit was £18.2 million, ahead of initial expectations but with a full-year decline of 19%.

However, CEO Simon Pitts said the company was coming through the pandemic “with confidence”, as digital revenue rose by 5%,with video on demand (VOD) revenues from the STV Player up by 12%.

STV’s digital business continued its surge, recording a 68% rise in online viewing, and the announcement of new content deals with Sony and eOne.

The total STV audience rose by 14% in 2020, the highest growth of any channel in Scotland, with all-time viewing share of 19.2% as it remained the most watched peak-time channel in Scotland, stretching 10% ahead of BBC1.

It had the largest ever lead over the ITV Network, with all-time share 12% higher and its STV News at Six delivered its highest average audience and viewing share.

Pitts said: “STV is coming through the pandemic with confidence.

“With profit and net debt materially better than expectations, the 2020 financial results we are confirming today are testament to the strength of our business and the commitment and creativity of our people in what has been an extraordinary 12 months.

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“We enjoyed record audience growth in 2020, with TV viewing up 14% and online viewing up 68%, the biggest gains of any UK broadcaster, and were also able to accelerate delivery of our strategy.

“Our advertising growth fund enabled us to attract 91 new Scottish advertisers, we bolstered our successful digital content strategy with a further 1200 hours of content, and we launched our streaming service STV Player across the UK for the first time, meaning it is now available in over 17m homes.”

Despite the pandemic, he said STV Studios had secured 19 new commissions – its largest to date – as it looked to establish itself as the UK’s leading nations and regions producer.

“We took proactive steps to conserve cash and raise capital from shareholders and, combined with better than expected trading, we now have a significantly strengthened balance sheet as we look to invest £30m in the next phase of our strategic growth, targeting at least 50% of our operating profit from outside traditional broadcasting by 2023,” said Pitts.

“We have made another strong start to the year on screen and online, with TV viewing up a further 14% and STV Player up 83%.

“Advertising trends are also improving materially, with April forecast to be up 60-75% and Jan-April +7-9% as lockdown hopefully begins to ease.”

He added: “There is also much to look forward to on STV with more new drama than ever in 2021, as well as the exciting prospect of the delayed Euro 2020 football championships involving both England and Scotland. While there is inevitably still uncertainty around the pandemic, we are positive about the future outlook.”