Channel 4 to Cut Over 200 Jobs and Sell London HQ Amid Advertising Slump
The broadcaster's new strategy, Fast Forward, aims to transition from traditional TV advertising to digital income streams, with a goal of 50% digital revenues by 2030.
- Channel 4, the publicly funded British broadcaster, is expected to cut more than 200 jobs due to a decline in advertising demand, marking the worst job cuts in the company's history.
- The broadcaster is also planning to sell its London headquarters and find a smaller location in central London, as it aims to move most of its staff outside London.
- Channel 4's new five-year strategy, called Fast Forward, aims to shift the company away from a dependency on traditional TV advertising to digital income streams.
- The broadcaster plans to close small linear channels that no longer deliver revenues or public value at scale, starting with the Box TV channels this year.
- By 2030, Channel 4 aims to reach a 'tipping point' with at least 50% of total revenues coming from digital sources.
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