STV is to launch a radio station as part of a refreshed strategy that will be presented today at a meeting of investors.
Recently-installed CEO Rufus Radcliffe will outline the plan, STV FastFwd to 2030, at a Capital Markets Event that will set out new long-term growth targets.
Through execution of this strategy, STV’s vision for 2030 is to be a globally recognised content powerhouse, and Scotland’s leading platform for audiences and advertisers.
It includes doubling revenue to £200m at its STV Studios programme-making division and targeting group operating profit of between £30m and £35m. Studios revenues are targeting £120-140m at an operating margin of at least 8% with at least 25% of revenues to come from international markets.
An eye-catching proposal is the launch of a commercial radio station, presented and produced from Scotland for Scottish audiences with the aim to be a top three operator within five years.
It will develop a “hyper-targeted” advertising proposition across video and audio using AI to provide cost-effective advertising, unlocking incremental revenue in the medium-term
The Glasgow-based company said these strategic actions can be delivered within a capital allocation framework that can be satisfied through continued strong cash generation and existing bank facilities.
Its 2026 targets include growing digital revenues to £30m and generating an audience division margin of at least 15%.
At the end of April 2025, the STV Studios’ forward order book was £66m (Feb-25 £76m), reflecting revenue recognised of £17m and new commissions won of £7m.
Mr Radcliffe said: “Today’s FastFwd 2030 strategy refresh outlines our vision to not only grow our presence in Scotland but to further establish STV on the international stage.
“Combining our broadcast and digital divisions and extending into audio both simplifies and further diversifies our advertising business. The launch of a new radio station and the continued growth of STV Player enable us to unlock exciting new opportunities for our customers.
“There is no ceiling to the international growth of STV Studios and we are delighted to welcome Fan Club into our family of labels.
“We have a clear vision and plan to 2030 to maximise the growth potential of the business and we will move at pace to ensure we deliver for our investors, customers, partners, viewers and our people.”
Radio plan
The radio station will be aimed at 35-54 year olds, will be available on DAB and online. Key presenters along with the name of the station will be revealed later this year.
The new station will be headed up by radio industry stalwart Graham Bryce, who was previously chief operating officer of Bauer Media UK and has experience in leadership roles in media businesses in the UK and across Europe.
He was recently responsible for the successful launch of Greatest Hits Radio across the UK. Mr Bryce will report to Bobby Hain, who takes on the newly created role of MD Audience – News, Audio and Regulatory at STV (previously MD, Broadcast), and who has worked in the radio and TV sector for more than 40 years
Mr Hain said: “Radio is a natural extension for us, so we’re delighted to be breaking into this market with an exciting new offering for listeners across Scotland. We have a clear ambition to be a top three commercial radio station in Scotland by 2030.
“This is a move that will help us grow our audience even further and create exciting new commercial opportunities.
“Together, our broadcast channel, streaming platform and radio station will enable us to offer a powerful cross-platform and affordable advertising proposition with real regional flexibility and local targeting capabilities.”
Mr Bryce added: “Radio listening remains robust and with Scots having a strong appetite for commercial radio I’m confident our new national station will offer something different and exciting to the market.
“This will be a truly national commercial station for Scotland with presenters, news and content focused on the needs and interests of listeners living in Scotland.
“We believe there is a real gap in the market, and I can’t wait to get started and shake things up.”
Further details will be provided at today’s event, taking place at 2.30pm, which will be hosted by Mr Radcliffe and CFO & COO Lindsay Dixon, who will be joined by members of the STV Leadership Team including Bobby Hain (MD Audience, News, Audio & Regulatory), Richard Williams (MD Audience, Video & Technology), David Mortimer (CEO, STV Studios), and Karen Smith (CEO, Tuesday’s Child).
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