Channel 4 poaches Paramount’s TV ad sales business from Sky
Exclusive: Move is a big boost for Channel 4, days after it announced it is to cut 340 jobs Business live – latest updates Channel 4 has poached Channel 5 owner Paramount’s £300m-plus TV advertising sales business from Sky, in a huge boost days after the broadcaster announced it is to cut 340 jobs. The win is a big boost for Channel 4, which also handles the ad sales for UKTV, the owner of…
Channel 4 has acquired Paramount's £300m-plus TV advertising sales business from Sky, marking a significant boost for the public service broadcaster. This move follows Channel 4's announcement of 340 job cuts, the latest round of layoffs in the company's history. The acquisition is a major win for Channel 4, which relies on advertising for nearly 90% of its £1bn in revenues.
The deal is particularly significant as it unites the ad sales for Channel 4 and Channel 5 for the first time. Channel 4's CEO, Priya Dogra, highlighted the partnership's potential, stating that it creates a strong proposition for advertisers, leveraging the power of public service broadcasting. The deal covers ad sales for Channel 5, as well as promotional slots with brands such as MTV, Comedy Central, and Nickelodeon.
However, it does not include Paramount+'s ad sales, which airs popular shows like Yellowstone and UEFA Champions League matches. The loss of this business is a setback for Sky, but it also bolsters Sky's bid for regulatory approval for its £1.6bn takeover of ITV. This acquisition would make Sky's enlarged business a dominant player in the traditional TV ad sales market, accounting for over 70%.
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