Channel 4 published record results for the full year on Friday, which chief executive Alex Mahon said showed the UK broadcaster was in a strong position.
The news undoubtedly gives the network more firepower as it fights the UK government’s controversial plan to privatize Channel 4, which Mahoney, along with many others in the British television industry, opposed.
“2021 was an exceptional year of creative excellence, exceptional digital growth and record financial performance, in which Channel 4 exceeded its responsibilities and successfully continued its transformation into a digital public service broadcaster (PSB),” said Mahon. “These results demonstrate that Channel 4’s business model delivers dynamic growth, revenue diversification and long-term sustainability.” Financially, Channel 4 is in the best health ever and our results have laid the foundation for continued investment, financial success and stability.
In its 2021 annual report on Friday, Channel 4 praised its “strongest financial performance ever”, with revenue exceeding £1 billion for the first time, at £1.2 billion ($1.4 billion). billion), 25% more than in 2020. It is also a significant 18% increase over 2019 pre-pandemic revenue,” the statement said. “TV advertising continues to wait in 2021,” digital advertising grew 40% last year, representing 19% of total revenue.
Channel 4 also reported a record pre-tax surplus, or profit, of £101m ($120m), up 36%. The gain came despite Channel 4 spending £671m on content in 2021, its third biggest spend on content and a 29% increase in 2020.
The broadcaster noted that “the UK’s biggest free streaming service, All 4, (delivered) a record performance of 1.5 billion views” and was “on track to hit 2 billion by 2025”.
Channel 4 will spend £671 million ($794 million) on content in 2021. This is the broadcaster’s third largest content spend and an increase from 2020 (+29%, 2020: £522 million sterling) and pre-tier levels. -pandemic.
The network also said on Friday that it “represents the whole of the UK”, saying: “From award-winning dramas like it’s a sinfundamentally black project aheadTokyo 2020 Paralympics Day Show in Leeds Steph’s Packed Lunchor Nida Manzuri we are lady partsIn 2021, Channel 4 featured a wide range of voices from the UK.
The TV giant concluded: “Channel 4 authentically represents and reflects its audience in the programs it commissions, Channel 4 has made strong progress in 2021 in equal representation. 18% of its workforce was ethnically diverse at the end of 2021. It will reach the target of 20% by the end of 2022. Fundamentally, Channel 4 has seen its share of ethnically diverse prospects increase from 9% in 2017 to 17 percent percent in 2021.
“Channel 4 is a vital national institution and its authority is deeply rooted in everything we do, every day and on every platform,” Mahon said. “It’s about showing things that people might not agree with and that’s what’s causing the perception. It’s not just about celebrating the diversity of our British society, it’s about celebrating the diversity of their thoughts and opinions.”
Source: Hollywood Reporter
Benjamin Smith is a fashion journalist and author at Gossipify, known for his coverage of the latest fashion trends and industry insights. He writes about clothing, shoes, accessories, and runway shows, providing in-depth analysis and unique perspectives. He’s respected for his ability to spot emerging designers and trends, and for providing practical fashion advice to readers.
