Channel 4 slashes content budget owing to advertisement revenue drop

SALONI WALIMBE | April 9, 2020

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Channel 4 is expected to cut its programming budget by nearly £150 million while furloughing about 100 staff to fight and survive any financial woes brought by the coronavirus crisis. The broadcaster, that is mostly funded by TV advertising, as well as being publicly owned expects to face a slump in the advertising revenue by 50% in the coming two months. It was estimated that Channel 4 was left with finances for six months only without having to make any cuts. The management of the broadcaster that includes Ian Katz, the director of programs as well as Alex Mahon, the chief executive will be taking a pay cut of 20% and will also not be receiving any bonus. Channel 4 also made an announcement that about 10% out of over 900 staff are expected to be furloughed.

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Tierney

Hello. At Tierney, we believe in having a conversation. But first, a few words about us: We’re a full-service agency with skills in advertising, PR, interactive and media. We work with clients to help create and shape their dialogue with consumers across all mediums. Please, feel free to join the conversation.

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