Channel 4 Reports Improved Annual Results

LONDON: Releasing its financials for 2010, Channel 4 says it recorded a year-on-year revenue gain of 12.6 percent to £935.2 million, with an overall after tax profit that soared from £300,000 to £38.6 million.

David Abraham, chief executive, noted, "2010 was a year of transition and Channel 4 has entered 2011 ready for the future. We have a new management team in place, we are refreshing our schedules and we are ready to provide content wherever our audiences want to consume it. Across 2010 the increase in our revenue allowed us to make extra investment in content and key technological developments to benefit the audience. We also increased cash by £49.5 million which will be used to invest in content and key strategic objectives in coming years; this puts us in a stronger position to meet the challenges of the future."

Advertising revenues were up by 15.9 percent to £819 million, with gains across the main channel, the digital networks and 4oD. Spending on content rose 5 percent to £578 million, with £362 million invested in original content across all services.