Channel 4 has unveiled plans to “reshape the organisation and accelerate” its move into a “genuinely digital-first public service streamer” by 2030.
The strategy – called Fast Forward – will ensure Channel 4 embraces the generational shift that is taking place in TV viewing, said the broadcaster.
The broadcaster wants to “get into the right shape for the 2030s and protect its long-term sustainability” by investing in streaming-friendly British content and social media; growing diversified revenue streams; and reengineering the business to become “leaner, simpler and nimbler”, divesting from legacy operations to support digital priorities.
This will involve transforming Channel 4’s streaming platform through outsourced technology that delivers a step-change in the user experience for viewers and advertisers, added the broadcaster.
It also intends to leverage FAST channels to give viewers access to more of their favourite content online.
Other plans include moving out of Channel 4’s London base “in the next few years” and the closure of “small linear channels that no longer deliver revenues or public value at scale”, including the Box channels in 2024 and others at the right time.
Alex Mahon, Channel 4, CEO, said: “Channel 4 was designed to be ahead of the curve and has never stood still. The rate of change in our market is only speeding up. Our new strategy will accelerate our digital transformation – building on 2020’s Future4 strategy and our founding public service principles – so Channel 4 remains a trusted, disruptive and distinctive brand into the 2030s, offering brilliant shows that people love and that matter.
“As we shift our centre of gravity from linear to digital our proposals will focus cost reductions on legacy activity. In preparing for a new digital-first future, I hope we can make Channel 4 simpler – for staff and our suppliers – and create a more efficient, inclusive and high performing organisation.”
