At the start of last week, Channel 4 announced a significant cost reduction initiative. This reflects the long term changes in media industry business models, and the more immediate impact of a down turn in advertising revenues.
At the end of last week, Ofcom announced its next stage of its PSB review, acknowledging the urgency of finding a funding settlement for Channel 4, and re-enforcing the importance of Channel 4’s multi-platform future.
And finally, Tom Loosemore arrived on Monday to take over the reins of 4iP and ensure we open for business later this month.
Each of these is worth some commentary.
First, it’s been suggested that Channel 4’s commitment to 4iP is being reduced. This is categorically not the case. 4iP remains a strategic priority, and it remains our intention to spend around £20m during the next three years. That said, we have not yet confirmed our budget for 2009, and we may need to phase some of our plans differently. But that’s a pragmatic response to the severity and suddenness of the current economic turbulence.
Second, Ofcom’s PSB review document contained some interesting perspectives for what 4iP is setting out to do. Their recent consumer research suggested that there is a problem in discovering new content online. Specifically, respondents “felt that when using the internet the likelihood of having their views challenged or their knowledge expanded ‘by chance’ was minimal.” Channel 4 is proud of its heritage in broadcasting in bringing new talent, ideas and perspectives to audiences, and challenging them to see the world differently. We are passionately interested in exploring how we can continue to do this on new platforms, in a world in which millions of people can create and share content which has public value. Cracking this problem would be one of the most profound contributions 4iP could make.
And finally, Tom’s arrival is long overdue. We’ve focused most of our attention so far on the partnerships, operations and processes which will ensure 4iP’s success. It’s great to have Tom on board to lead the project, and he’s already galvanising our thinking on creativity and commissioning.
All the pieces of the puzzle are now coming together, and we’ll be open for business later this month. Better crack on then.
george price on Mon, October 13, 2008 at 12:14 said:
Good luck Tom, hope to be able to share our digital new media success with you and see how we can collaborate in delivering a trully new PSB service for the masses. We currently have mass audiences figures on a daily basis with our digital platform and belive we have gained results that you may find very interesting.
Look forward to seeing you at the 4ip launch Millennium Point 22nd October.
cheers
George Price
Tom Loosemore on Tue, October 14, 2008 at 10:29 said:
Thanks George - and likewise I look forward to Glasgow
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