19 May 2005
Channel 4 has announced it is ready to spend £188 million on its existing digital TV output, E4 and More4.
The large "war chest" the channel has to play with for improving its digital services is available thanks to record-breaking advertising revenue. It finds itself in the happy position of having more than £100 million more than it did last year, when it had only £80.3 million to play with.
Channel 4's chief executive, Andy Duncan, plans to use some of the money to make "sensible, smart investments" over the next couple of years, and the channel is expected to explore avenues such as new media and music, to cement its image as a strong youth brand.
The broadcaster has already launched a new music website this month, with Channel4.com/music, while Big Brother Six will be taking full advantage of new media platforms such as 3G.
Mr Duncan said: "We finished last year with £188m in cash and liquid assets. We're investing more in E4, More4, and we've tripled our new media spend.
"We're going to use that war chest to make these investments. But some of that cash will also be used to make [new] commercial investments."
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