Profitless Channel 4 in nontaxing situation

Brit web finances down for year

LONDON — Channel 4 failed to make a profit in 2001 for the first time in just under a decade, after its advertising revenue fell by £38 million ($54 million).

The web, which is state-owned but commercially funded, has not yet published its 2001 figures, but managing director David Scott revealed the state of its bottom line Monday to a parliamentary committee.

Scott said Channel 4 will not pay corporation tax in its 2001 accounts because “there was no profit.” In 2000, the web reported an operating profit of $48.3 million on sales of $1.02 billion, and paid $17.6 million in tax.

Advertising revenues fell 6% last year to $858 million. Digital channels E4 and FilmFour are still running at a substantial loss, while film production-distribution company FilmFour has been in the red for two years.

The web already has said that it will cut its program budget by 2% to 3% this year.

More TV

  • Seven Seconds

    ‘Seven Seconds’ Boss on Depicting the Human Stories Behind Headlines

    LONDON — Channel 4 failed to make a profit in 2001 for the first time in just under a decade, after its advertising revenue fell by £38 million ($54 million). The web, which is state-owned but commercially funded, has not yet published its 2001 figures, but managing director David Scott revealed the state of its […]

  • TV Ratings: Winter Olympics Near Low

    TV Ratings: Winter Olympics Near Low on Second Wednesday

    LONDON — Channel 4 failed to make a profit in 2001 for the first time in just under a decade, after its advertising revenue fell by £38 million ($54 million). The web, which is state-owned but commercially funded, has not yet published its 2001 figures, but managing director David Scott revealed the state of its […]

  • SOUTH KOREA OUTMandatory Credit: Photo by

    Netflix, Korean Talent Giant to Launch ‘YG Future Strategy Office’

    LONDON — Channel 4 failed to make a profit in 2001 for the first time in just under a decade, after its advertising revenue fell by £38 million ($54 million). The web, which is state-owned but commercially funded, has not yet published its 2001 figures, but managing director David Scott revealed the state of its […]

  • CBS correspondent Margaret Brennan is the

    Margaret Brennan Named Anchor of CBS' 'Face the Nation'

    LONDON — Channel 4 failed to make a profit in 2001 for the first time in just under a decade, after its advertising revenue fell by £38 million ($54 million). The web, which is state-owned but commercially funded, has not yet published its 2001 figures, but managing director David Scott revealed the state of its […]

  • Amy Poehler - Parks and Recreation

    'Parks and Recreation' Team Rips Into NRA for Using Amy Poehler GIF

    LONDON — Channel 4 failed to make a profit in 2001 for the first time in just under a decade, after its advertising revenue fell by £38 million ($54 million). The web, which is state-owned but commercially funded, has not yet published its 2001 figures, but managing director David Scott revealed the state of its […]

  • amazon-logo

    Amazon Sets Spanish-Language Content Pact With Televisa (EXCLUSIVE)

    LONDON — Channel 4 failed to make a profit in 2001 for the first time in just under a decade, after its advertising revenue fell by £38 million ($54 million). The web, which is state-owned but commercially funded, has not yet published its 2001 figures, but managing director David Scott revealed the state of its […]

  • Europe’s Unified Digital Market: Final Judgement

    Europe’s Unified Digital Market: Final Judgement Set in Motion

    LONDON — Channel 4 failed to make a profit in 2001 for the first time in just under a decade, after its advertising revenue fell by £38 million ($54 million). The web, which is state-owned but commercially funded, has not yet published its 2001 figures, but managing director David Scott revealed the state of its […]

More From Our Brands

Access exclusive content