STV has had some bad news. The company has said it will make less money than it had hoped this year. So much so, it’s now planning to cut £2.5million from its budget.
This is never good to hear. No one likes the idea of jobs being at risk or money being lost. But sometimes, in business, tough decisions need to be made. The key however is making the right ones.
STV is Scotland’s best-known broadcaster. It’s on our TVs every day, bringing us local news, entertainment and big-name shows. But the world of media is changing fast. The way people watch TV and get news is very different now. And that’s part of the reason STV is having problems.
Advertising is down. Fewer companies are spending money to advertise on traditional TV. People are watching more YouTube, Netflix, or TikTok instead. Even when we do watch the news, it might be on our phones, not our living rooms. So, STV can’t just rely on the same old ways to make money.
But here’s the thing: trying to be everything for everyone is a mistake.
STV has been working hard to grow its production studio. It wants to make more shows for bigger networks. But delays in getting these shows made, especially unscripted ones, like reality or documentary-style programmes, have made things harder.
They’re also investing in a new radio station, which sounds exciting. But again, it’s a big risk in an already busy market.
STV needs to be careful. Cutting costs is fine, but only if it doesn’t cut the parts of the business that are working. Every cost cut affects real people. Behind every number is someone’s job, someone’s team. I’m sure they will be incredibly deliberate and careful with these choices.
However, STV is still winning when it comes to Scottish viewers. It was the most watched commercial channel in Scotland on 363 out of 366 days last year. That shows trust. People are choosing STV.
It has taken a knock but is still surviving. For the full year to 31 December 2024, STV reported group revenue of £188 million, up 12 per cent from 2023, and statutory operating profit of £13.2 million.
One of their biggest wins has been its drama work. People in Scotland want to watch things that reflect their lives. Big networks like Netflix don’t always show that. STV has that great advantage of being local. That’s a big advantage.
Shows like Blue Lights and Amadeus have done well. They were produced by STV for Sky and BBC respectively. That’s where the money is coming in, and the praise too. So why not double down on what’s clearly working?
It’s also worth remembering that STV is in a special place. It’s one of the only media groups focused on Scotland. People trust it for news that matters to them. That trust is valuable. In a world full of clickbait and fake news, local news still counts. So STV should protect its news service and connections to people on the ground, rather than spreading too thin with risky side projects.
The big question STV has to ask is this: where are people getting their news and entertainment now? The answer isn’t simple, but it’s not just TV anymore. It’s podcasts, streaming services, short-form videos, and mobile apps. That doesn’t mean STV should panic, but it does mean being smart and picking your battles.
In business, doing less but better is often the smartest move. Ask your customers what they want. Then focus on giving them exactly that. No more, no less.
They don’t need to become the BBC overnight. That’s too big, too broad, and too expensive. Be the best at a few things, not average at many.
It’s a tough time for all media companies. But tough times can also be turning points. If STV can focus on the winning ideas, cut costs wisely, then it can come out stronger on the other side.
Don’t put all your eggs in one basket – but maybe don’t try carrying nine baskets either.
Side (261 words)
It’s not every week whisky finds itself at the centre of global trade negotiations on two fronts, but last week, that was exactly the case.
On home soil, First Minister John Swinney met with President Trump during his visit to Scotland and pressed the case for removing the 10 per cent US tariff on whisky exports. With an estimated £4 million draining from the industry every week, Swinney rightly argued that whisky’s uniquely Scottish status warrants special treatment.
Meanwhile, a long-anticipated trade deal between the UK and India was finally signed, with tariffs on whisky set to be halved from 150 per cent to 75 per cent, and potentially dropping to 40 per cent within a decade. The projected value of the deal for Scotland’s whisky industry? Around £190 million, which is a game-changer for both major producers and smaller distilleries alike.
As a businessman, I applaud both efforts. Whisky is more than a cultural export – it’s a commercial powerhouse. But for that power to be fully realised, it needs global reach without excessive red tape or punitive costs.
Swinney was right to advocate for the industry, and Westminster, for once, delivered something tangible. Of course, time will tell on how these moves shake out in practice, but for now, it’s a welcome shift in momentum.
If we’re serious about growing Scotland’s global economic footprint, whisky offers a perfect example – invest in quality, fight for market access, and stay ambitious.
Last week, we took a decent step in the right direction, and I’ll certainly raise a glass to that.
Laugh (121 words)
The Scottish FA has taken an unexpected, but rather inspired, approach to the new football season – bringing in aviation experts to train VAR officials.
Last week, referees were coached by airline pilots on how to stay calm and communicate clearly under pressure. If it works at 30,000 feet, why not in a packed stadium when a goal is on the line?
It’s a reminder that in business, even in football, looking outside your own field can be the key to improvement.
Whether you’re running a tech firm or a takeaway, learning from experts in other industries can lead to sharper thinking and better results.
Smart partnerships like this show that fresh thinking can come from the most unexpected ‘run’ ways.
Weep (119 words)
It’s worrying to see distress levels rising among Scottish businesses, with more than 31,000 firms now showing early signs of financial trouble.
According to Begbies Traynor, nearly every sector is feeling the pressure – from professional services to hospitality – and critical distress is up too, with bars, restaurants and offices taking the hardest hits.
The cost of doing business remains high, with wages, national insurance and stubborn inflation leaving many firms fighting to stay afloat, not grow.
Scotland’s economy relies on a thriving mix of small and medium enterprises, and this growing strain cannot be ignored.
Support must come sooner, not later — because once the warning signs are flashing red, it’s often too late to turn things around.
