British TV broadcaster Channel 4 plans to set up a £90 million ($161m; €135m) fund to support new ventures as it seeks fresh sources of revenue.
The move is part of a restructuring of the group's 4 Ventures division, which handles its digital and media rights businesses. C4 hopes that the fund will help the unit double its cash contribution to the firm within five years, thereby reducing the broadcaster's dependence on ad revenues.
"Although we've built a strong engine, [C4] needs other sources of growth to support our ambition of increasing our investment in programming and content," commented the broadcaster's commercial director, Rob Woodward.
It is believed that C4 is eager to overhaul its business model to meet the growing threat of digital television. This offers viewers far more channels, and therefore threatens to erode the audience share of traditional analogue broadcasters.
Data sourced from: mad.co.uk; additional content by WARC staff