Channel 4 announces record share of advertising

Channel 4 increased its share of advertising and share of peak-time viewing in 2008, despite cutting its programme budget.

The broadcaster reported a record share of UK TV advertising at 24.1% and a record share of peak viewing of 12.7% – up 1% – in its annual results for last year.

Channel 4’s record results come after the broadcaster was forced to reduce its programming budget by 4% to £598.6 million.

However, the broadcaster’s total revenues dropped 4% to £906.1 million, with advertising revenues also down 4% to £944.9 million.

This resulted in a surplus of £1.8 million for Channel 4, which was up from £500,000 in 2007, due to its reduced programming spend and additional efficiencies that it has implemented into the business.

Andy Duncan, Channel 4’s chief executive, said: “We have taken strong action to further improve efficiency and align our cost base with the advertising market downturn.”

Channel 4 forecast that its total UK TV revenues will be down by 18% in the first half of this year.

The broadcaster is still fighting for government funding to help it solve its £150 million funding deficit, which has linked it to partnerships with BBC Worldwide and Channel Five.