Channel 4 Plans New Launch As 4 Ventures Cuts Losses
Channel 4 has announced plans to launch a new version of its digital entertainment channel, E4, as losses at its commercial division, 4 Ventures, more than halved.
The new delayed broadcast channel, known as E4 +1, will launch across digital, satellite and cable platforms in July. It will carry an identical schedule to E4, but will begin broadcasting an hour later each day in an attempt to boost its popularity among its target audience.
Rob Woodward, managing director of 4 Ventures, claims the new channel will help to boost E4’s audience growth in digital homes and broaden its offering to advertisers.
The announcement follows confirmation that 4 Ventures saw losses fall by 53% to £28 million for the year ending 31 December 2002. E4 doubled its share of 16-34 year-old viewing in multi-channel homes to 2.8% and increased its advertising and sponsorship revenue by 79%.
Revenues for 4 Interactive’s online and interactive TV operations rose to £7 million during 2002, up from just £2 million on the previous year, an increase which is largely due to the success of last year’s Big Brother.
4 Ventures is aiming to reduce its operating losses by half during 2003, with the objective of reaching profitability across its existing portfolio of businesses in 2004.
2002 was a difficult year for Channel 4, which embarked on the most radical restructure in its 20-year history. This included proposals for up to 200 job losses and a major shake-up of its senior management team (see Channel 4 Announces Most Radical Restructure In 20 Years).
4 Ventures also cuts its staff by 30% and folded the film production arm of its FilmFour channel in an attempt to reduce losses (see Channel 4 Cuts 45 Jobs From Commercial Arm).
Channel Four: 020 7396 4444 www.channel4.co.uk
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