Initial audited figures reveal that Channel 4’s post-tax surplus fell to £20 million last year from £48.5 million in 2005, whilst advertising on the channel fell to about £665 million from £706 million over the same period.
According to a report in today’s
Guardian, the broadcaster’s digital channels softened some of the impact of this drop as they increased advertising to £110 million from £63 million, although this was still not adequate compensation for the migration of advertisers away from traditional television.
Andy Duncan, chief executive of Channel 4, is reported by the Guardian that the corporation had frozen its £600 million budget in order to buy and commission shows.
Ofcom is expected to publish its initial report into Channel 4’s funding in March.
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