Earnings: SMG On Track For £2 Million From Web Ads By 2010

Scottish Media Group (SMG) says it’s on track to hit online ventures revenue of £20 million by 2010. The group is planning to “relaunch” its new media strategy this summer and says it’s also on course to increase daily visitors to the STV.tv portal from the current 8,000 to 200,000 by the same year. SMG picked former FT.com, Scotsman and The List online head honcho Alistair Brown to lead its online operations in January. With commercial director David Connolly, he is aiming to capture three percent of what they say will be a £200 million classified ad market in Scotland by 2010 – also through banner ads, sponsorship and video display ads. They say they’re on track to hit £2 million online ad revenue by that time. Overall, pre-tax profits fell to £4.4 million from 2006’s £10 million.

Release & Financials