Internet giant Google will generate more coin from U.K. advertising this year than terrestrial web Channel 4, according to C4’s CEO Andy Duncan.
Duncan, who visited Google’s California HQ last month, forecast that Google U.K.’s ad revenue for 2006 would be £900 million ($1.6 billion) compared with C4’s $1.4 billion.
“People need to wake up and realise this is not just a cyclical issue,” Duncan told FT.com. “There is a deep structural change taking place” in where advertisers place their coin.
More ad coin is migrating from traditional to digital media and Duncan, comparing the shift to global warming, claimed broadcasters could not be “in denial” about this.
All U.K. terrestrial TV webs are experiencing a very tough advertising market, in contrast to continental Europe where the market is much healthier.
Duncan is lobbying the government for financial support for state-owned pubcaster C4.