The Four Innovation for the Public (4IP) fund was announced last month as part of Channel 4's Next on 4 strategy update, at which the broadcaster pledged its commitment to public service broadcasting, in exchange for new forms of public funding.
The fund will allow Channel 4 to collaborate on new digital content initiatives with development and media agencies across the UK.
Jon Gisby, Channel 4's director of new media and technology, said he was currently recruiting a senior executive to head 4IP.
The broadcaster is also recruiting several regional project managers to oversee gaming and online projects in cities such as Birmingham and Manchester. "They will act as talent scouts on the ground," said Gisby.
But Channel 4 chief executive Andy Duncan has warned that such growth in online services was "less attractive in profit terms" to the broadcaster than growth on its core linear channels, which generate the majority of its revenues - £871.7m of its total £944.9m group revenues last year.
Last week, at the launch of the broadaster's 2007 annual report, Duncan said that additional revenues would have to start coming in from new ventures as the core channel moved into loss. Last year, the core channel, Channel 4, posted a pre-tax loss of £7.8m.
But Duncan warned that digital revenues were unlikely to ease the "massive pressure" on ad revenues for the core channel.
"Overall, the new-media division was loss-making last year," he said.
Channel 4's new-media division expanded revenues by 44% to £26.7m in 2007, but the division reported a pre-tax loss of £15.4m, due in part to investment in its video-on-demand platform 4oD.
4oD will cease to exist as a separate service after the launch of Project Kangaroo, the joint-venture service with ITV and BBC Worldwide. Channel 4 will run a branded archive area on Kangaroo and video on the Channel4.com website.
The fund will allow Channel 4 to collaborate on new digital content initiatives with development and media agencies across the UK.
Jon Gisby, Channel 4's director of new media and technology, said he was currently recruiting a senior executive to head 4IP.
The broadcaster is also recruiting several regional project managers to oversee gaming and online projects in cities such as Birmingham and Manchester. "They will act as talent scouts on the ground," said Gisby.
But Channel 4 chief executive Andy Duncan has warned that such growth in online services was "less attractive in profit terms" to the broadcaster than growth on its core linear channels, which generate the majority of its revenues - £871.7m of its total £944.9m group revenues last year.
Last week, at the launch of the broadaster's 2007 annual report, Duncan said that additional revenues would have to start coming in from new ventures as the core channel moved into loss. Last year, the core channel, Channel 4, posted a pre-tax loss of £7.8m.
But Duncan warned that digital revenues were unlikely to ease the "massive pressure" on ad revenues for the core channel.
"Overall, the new-media division was loss-making last year," he said.
Channel 4's new-media division expanded revenues by 44% to £26.7m in 2007, but the division reported a pre-tax loss of £15.4m, due in part to investment in its video-on-demand platform 4oD.
4oD will cease to exist as a separate service after the launch of Project Kangaroo, the joint-venture service with ITV and BBC Worldwide. Channel 4 will run a branded archive area on Kangaroo and video on the Channel4.com website.
.jpg)
.jpg)