Channel 5 Needs More Cash To Boost Share, Says Elstein

Channel 5 chief executive, David Elstein, told a reception on Tuesday that the broadcaster will need more cash investment if it is to raise its share of viewing to 7% in the next few years. He also said that C5 is on course to take a 5.2% share of viewing during 1999.

Channel 5 is owned by Pearson, United News & Media, Warburg Pincus and CLT-Ufa. Elstein said that these shareholders would have to invest more money in the channel’s programme schedules if it is to continue to increase its viewership. Independent Television Commission viewing figures for the year ended March 1999, give C5 a 4.6% share of viewing (see ITV Wins Majority Viewing Share For Year Ended March).

Advertising revenue is predicted to reach £180 million this year and the broadcaster should be worth £1 billion by next year, in line with predictions by Barclays de Zoete Wedd.

Channel 5’s director of programmes, Dawn Airey, also unveiled a raft of new programmes with 25 new series and 15 one-off shows.

Channel 5: 0171 550 5555