Channel 4 has launched its new commercial arm, 4 Ventures, and said it will continue to spend heavily on digital and online projects. More than £200m has been set aside for new media investment.
Details of the new company were unveiled yesterday as the group released its annual report and accounts for 2000. Chairman Vanni Treves said last year was the most successful in the channel’s history, with turnover up 12% to £716m and share of viewing up 2% to 10.5%.
4 Ventures will house the group’s pay-tv services, Film Four and E4, as well as its internet and interactive services (see Channel 4 Launches Commercial Arm). Over the next three years £80m will be spent on E4, to help the new entertainment channel break even by 2005, and £66m will be spent on Film Four, which is now halfway towards profit.
Channel 4 said it will commit £23m to proposed horseracing consortium Go Racing (see C4’s Racing Plans Back On Track) and a further £23m will be spent on further interactive projects during 2001, including e4.com and the relaunched filmfour.com.
Channel 4: 020 7396 4444
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