UK broadcaster Channel 4 Announces £2m Convergent Formats Fund

written by: Richard Kastelein

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Adam Benzine from C21 Media reports today that Channel 4 (C4) has rolled out a  £2m (US$3.2m) funds - and one is to invest in next generation ideas, apps and creative concepts. The other will be used to back new talent.

The network will also launch a Convergent Formats Fund, also worth £2m, this year. Of this fund, Abraham said: "The Convergent Formats Fund will invest in ideas, apps and creative concepts for the next generation of connected TV like YouView.

"It will pioneer new ideas for a new generation of broadcast television and the objective is to become the partner of choice for the most imaginative digital media companies in the UK."

In his speech, Abraham also said that the network was too reliant on commission shows from UK "superindies," such as Endemol, Shed Media, All3Media and Shine. Going forward, he said the network was aiming to match or exceed its targets for regional funding online and on digital interactive platforms.

"In the next two years we will endeavour to ensure that at least 35% of our annual-spend in digital media commissioning will be from new and emergent companies from outside London," he said. 

This is great news for third party TV app developers on Youview and other CE Smart TV platforms such as Samsung Internet@TV, Sony Bravia, LG, and Philips as well as emerging producers and innovators in the emerging convergence of the Web, TV and Social Media, both multiple screen (tablet, smart phone) and one screen solutions.

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