Viacom intends to significantly increase Channel 5’s £200m annual programming budget, with a much bigger focus on making original shows, and pledged not to convert any channels to pay-TV.
Philippe Dauman, the chief executive of Viacom, said programming was the “lifeblood” of its business and to expect significant increases in budget.
“We are a pureplay content company around the world, this is our lifeblood,” he said, speaking to the Guardian. “We spend $3bn (£1.8bn) on programming [and] it is increasing year after year in mid to high single digits percentages. Content has never been more valuable.”
Read the full story at Viacom to increase Channel 5 budget | Media | theguardian.com.
