Channel 4′s chief executive David Abraham has revealed plans to invest nearly £450 million (USD $700 million) into original programming for the UK broadcaster in 2012.
At the Oxford Media Convention, Abraham told the audience that C4 will invest more money than ever before in the UK independent production sector.
The large increase was part of Abraham’s plan at the outset upon joining the broadcaster in May 2010, a plan that also included assembling a new executive team to navigate C4′s first year without Big Brother on the schedule. For 2011, C4 delivered a 6.8% share, only 0.2 percent share points behind 2010, which also represents the least pronounced year-on-year decline on the core channel for five years.
“This strategy builds on what Channel 4 has always been about – supporting our investment in UK content and delivering our remit,” said Abraham during the speech. “It will also enable us to grow ratings and viewer engagement, and pump the revenue benefits back into content – and back into the UK creative industries.
“So, while the outlook for 2012 may be uncertain, I enter this year with a sense of confidence, excitement and optimism that Channel 4 is in the midst of one of the most inspiring and creatively stimulating periods in its history,” he added.