Viacom vows ‘double digit’ boost to programming and a brand refresh for Channel 5
Channel 5 is set to benefit from a significant cash injection from new owners Viacom following their £450m takeover of the network last year, promising a ‘double digit’ budget increase for 2015/16 programming and a brand overhaul.
The cash will fund an increase in news output and an overhaul of its on screen brand as it seeks to differentiate its tenure from that of Richard Desmond and reinvigorate the channels ratings.
Viacom chief executive Philippe Dauman said: “We said we would increase investment in original content, we have and we will continue to do so. The programme budget for Channel 5 will see a double-digit increase again in 2015/16.”
The parent company of MTV and Nickelodeon is seeking to position itself as a lead player in the UK domestic market amidst an on-demand revolution which is expected to put growing pressure on traditional broadcasters such as ITV and Sky.
As part of this shift Viacom recently announced five original Comedy Central shorts for Snapchat, each of which will run for just 10 seconds.