U.K.’s Channel 4 to Slash Content Budget as Ad Revenue Plunges Due to Coronavirus
Published on Apr 08, 2020
U.K. broadcaster Channel 4 is to slash its content budget by £150 million ($185 million) and make £95 million ($118 million) of operational savings in a bid to navigate the economic impact of the Covid-19 outbreak.
The broadcaster said today that the cuts come against a backdrop of a plunging advertising market, for which it relies on for most of its revenue. C4 said the ad market is set to be down in excess of 50% over April and May.
Channel 4’s executive board and non-exec board are to take a voluntary 20% pay cut and suspend 2020 bonuses for executive directors. This includes chief executive
Read full article at: Variety - TV News
Author: Tim Dams