Last Updated on 03/09/2024 by Arun jain
David Mortimer has been promoted at STV As a studio Criminal record The producer predicts “strong H2 profitability”.
Mortimer rose from MD to CEO STV StudiosComing just days after former ITV exec Rufus Radcliffe was revealed to be handling As CEO of STV from Simon Pitts, who will step down next month.
News of Mortimer’s promotion comes as STV, a public company, announced solid half-year results for the first six months of 2024. STV, which includes linear channels, streaming and STV Studios, grew turnover by 20% to £75.3M. ($98.9M) while adjusted operating profit rose by a third to £10.6M.
STV Studios, meanwhile, saw revenue grow by 38% to £37.5M. STV said it was “on track” to double studio revenue to £140M by the end of 2026 with a 10% margin. While its operating profit was just £0.1M, the company blamed “dramatic activity and the performance of acquired production companies” and promised “stronger H2 profitability from expected seasonal second half weighting.”
Look at the timeline
Mortimer’s outfit has had a solid year with the renewal of the Peter Capaldi-starrer for Apple TV+ Criminal record And started Netflix commissions witness, With the BBC betting on a four-season order of the Northern Irish police drama Blue lights. Yesterday, we revealed STV Studio Developing anOthER BBC drama about the Piper Alpha oil rig disaster.
Elsewhere, STV Studios has taken full control of the factual producer hello helloJust a few days ago, its share increased from 30% to a majority of 51%.
Pitts, who will leave on October 31 to join Global, said: “Our production investment strategy is delivering tangible results, with STV Studios continuing its strong revenue growth in the first half, and we today announced an attractive new deal to acquire majority control. announced. Hello Hello, creator of the profitable unscripted format. With high value recommissions of the like category Criminal record For Apple TV+ and the Fortune Hotel ITV is also secure, we have our strongest future order book ever at a studio at £101m in program commissions.”
On Mortimer, he said he was “delighted” that the former BBC and NBC exec “will drive its continued growth and success domestically and internationally.”
Last year STV Received Greenbird from KeshetIn which the number of its labels has increased from eight to 20.
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