Originally Posted by Steve Williams:
“And if they do then the Channel Four board should all be fired after the umpteen years they've pleaded poverty. They're supposed to be a PSB that provides an alternative to mainstream programming, which F1 certainly is not, and neither is Euro 2012.”
If you want to know why C4 has plenty of money to bid for F1 then look at slide 31/50 of Sky's recent results presentation.
Ignore the Sky numbers - they obviously reflect increased Pay TV penetration and the acquisition of Living in the last year.
What is interesting about this slide is the relative performance of ITV, C4 and C5 (note all figures are for the networks as as whole, ie including digital channels).
It's very easy to get lost in the minutiae of ratings and lose sight of the big picture, which is:
1) Compared to 5 years ago, C4 revenues are up 11%. ITV is down 7% and Five is down 11%. That is a huge outperformance by C4.
2) In 2007, 2008 and 2009, C4 and Five performed pretty much in line, with ITV quite a long way behind (largely caused by a disastrous 2007 from which it didn't recover).
3) In 2010 and 2011 ITV has recovered a bit but only back to its 2008 level.
4) Five had an absolutely disastrous 2010. It has recovered a little bit in 2011 but is still well below its 2009 level.
5) C4 had a steady 2010 but then had an outstanding 2011, resulting in it now being 11% ahead of its 2006 level.
NB All figures are for the year to 30 June.
See slide 31/50:
http://corporate.sky.com/documents/p...sentation_1011