Channel 4 made £48.5 million after tax profit in 2005, a jump of 9%, enabling the broadcaster to plough “record investment” into the original comedy and drama programming budget this year.
The broadcaster is now aiming to spend £625 million on all its programming this year, up from £573 million in 2005, with it promising to plough millions in to making more episodes of current affairs strand Dispatches, as well as all entertainment programming.
Chief executive Andy Duncan described the rise in revenues as a “perfect virtuous circle”. He added: ” The fact that we defied gravity to buck the market last year will allow us to increase our creative investment once more in 2006, with a further £50 million being invested on screen and online in making our unique public service contribution available to every viewer and user,” he said.
Profits have been boosted by the launch of digital service More4 and the transfer of E4 on to Freeview and multichannel revenues are projected to rise to £110 million this year as FilmFour moves from pay TV to free-to-air this July.
This year Channel 4 also launches a video on demand service and is spearheading a move into commercial radio.