The Week: City News - STV Group ad revenues up

STV Group, the broadcaster that owns the Scottish ITV franchise Stv, has announced that its TV ad revenue increased 11 per cent year on year in 2008, and now controls 22 per cent of the Scottish ad market.

The group also saw a 50 per cent increase in broadcast sponsorship revenue year on year. STV, which was formerly known as SMG, predicted TV adspend to be down 17 per cent year on year in the first quarter of 2009, with the ITV Network down 21 per cent.