Industry insiders say the proposal is part of the broadcaster's review of its presence on the platform. It already runs two digital channels as well as its terrestrial channel.
A spokesman for Five refused to comment on the plans, but admitted: 'We are looking to expand our family of digital channels.'
The decision would make Five the latest terrestrial broadcaster to launch a movie channel; Channel 4 has had considerable success with Film4, while ITV is widely expected to launch a movie channel this summer. ITV Movies is expected to replace the now-defunct ITV Play channel.
RTL-owned Five launched two digital free-to-air channels, Five US and Five Life, last year. Five Life, which is aimed at female viewers, got off to a poor start, with its debut last October attracting an audience of just 44,500 - a 0.1% share of the available audience - the worst-ever figures for a terrestrial spin-off channel launch (Marketing, 7 February).
Last October, Five hired former managing director of Flextech Television Lisa Opie as managing director of content. The move led to the departure of director of programmes Dan Chambers.
- 500 movies, one living room, page 19.