UKTV blames 7% profits fall on new channel launch
UKTV has blamed its new TV channel, Drama, as the reason that profits fell seven per cent to £66.2m in 2013.
Announcing that revenues were up six per cent to £278m, the channel spent £125m on content in 2013, with a similar amount predicted to be spent during 2014.
UKTV chief executive Darren Childs said: “Investment is key to our future growth. This is a really significant phase in UKTV’s story, when we move from challenger to contender.
“These results show that the more we put in, the more we get out, and I am delighted that so many of our original programmes are amongst our top titles and selling so well internationally. We are becoming an increasingly significant investor in UK creativity.”
On-demand viewing increased 639 per cent in the first half of 2014, compared to 2013, something put down to a record amount being spent on homegrown original content instead of deals with Sky and Virgin.
Dynamo: Magician Impossible was one such programme aired on UKTV, along with Dave Gorman: Modern Life is Goodish and David Attenborough’s Natural Curiosities.