Broadcast News

Bookmark and Share


THE television channel fronted by Angela Rippon, ‘Simply Money’, the UK’s first interactive digital consumer finance channel launched in January 2000, has been scrapped because of its failure to self-generate enough capital.
The station is to be turned into a shopping channel because investors’ believe a home shopping channel has the potential to be more profitable in a shorter timeframe.
According to the Financial Times, John Hodges, chief operating officer of Invest TV, said the channel had been too reliant on income from advertising and sponsorship. “It was not a robust business model.”
Hodges said: “There has been a 10 to 15 per cent increase in the number of digital channels this year - all fighting for a reduced pot of advertising cash.”
Launched in January last year, the channel which reaches around 550,000 viewers a month, is carried on the Sky Digital and ONdigital platforms.
While the channel is showing archive footage at the moment Hodges claimed that there is no cash crisis: “We are fully funded. The business has simply been refocused.” However, Invest TV have warned that this refocusing is likely to result in a number of staff redundancies at Simply Money.
The replacement channel, ‘Simply Shopping’, to be launched next month on Sky Digital, will sell goods such as clothes, gardening equipment and DIY kits.
Invest TV intends to work closely with commercial partners, whether advertisers, retailers or Direct Response Television (DRTV) companies, to develop, broadcast and promote transactional infomercial and tele-shopping content.
The company has recently entered into a commercial arrangement with Best Direct (International) Limited, a leading European (DRTV) company. The first programming on the new channel is expected to launch in early April.
On the decision to refocus Invest TV’s business model, George Bayer founder of Simply Money and Managing Director of Invest TV Resources said: “I am very excited at the prospect of developing a format of programming, which will stand out from the existing players in the market. As a producer of high quality, low cost television and with broadcast capacity, we have already generated significant interest in our proposition from a number of high profile retailers”.
Simply Money is part of Invest TV, owned by Pacific Investments, a private equity firm, and Mike Luckwell, a media investor and former managing director of Carlton Communications.(AMcE / SP)
Solidmate Ltd Memory Card Hire London

Top Related Stories
Click here for the latest broadcast news stories.

Let's Design A Lighting System For Your TV Studio
Projects Department Ltd has been around for over 18 years but with a combined resource of over 40 years providing consultancy, design, supply and inst
RTS Announces Television Journalism Awards 2016
The Royal Television Society (RTS) has announced the nominations for the RTS Television Journalism Awards 2016.   The awards, for news and current aff
Production News : Channel Announce New Head Of 4creative
Channel 4 today announced it has appointed Alice Tonge as Head of 4creative, Channel 4's multi award winning in-house creative agency. Reporting to Ch
Production News : Channel 4 Announce Return Of The Handmaid's Tale
Channel 4 has announced that it will air the second series of The Handmaid's Tale, following the culmination of it's "hugely successful" first series.
Production News : Channel 4 Set For Rinderland
Channel 4 has announced a new topical studio entertainment show, Rinderland, based on host Rob Rinder's own inimitable style. With studio items, VT sk
Production News : New Online Comedy Show Announced By Channel 4
Channel 4's online comedy showcase highlighting the brightest new comedy stars and freshest TV ideas returns with a brand new three - part bite-sized
Chilean TV Channel Produces FIFA Football In Russia Live
Clear-Com® has announced that the Chilean national broadcaster, Red Televisiva Megavision S.A. (Mega), uses Eclipse digital matrix system with IP-enab
CHANNEL 4 have published their Annual Report for 2000 and formally launched a new incorporated company, 4 Ventures Limited, to manage all their film a
Production News : Channel 4 Announces Return Of Lookalikes
Following the success of the pilot episode and subsequent series, Channel 4 has commissioned another series of structured reality show 'Lookalikes'. T
RTS Announces TV Journalism Awards
Last night saw the Royal Television Society (RTS) present awards to the winners of the RTS Television Journalism Awards 2012/2013. The ceremony was ch
THE recent collapse of the UK’s first dedicated financial channel has been blamed on low viewer figures, dull programming and overly complex programme
Production News : Sky To Launch Animation Channel
Sky Cinema is offering both classic and new animation titles on a channel for the first time starting this month. Launching on Saturday 14 October, an
Arqiva Provides Satellite Distribution Of Channel 4 HD To Sky And Freesat
Arqiva has secured a satellite distribution deal for Channel 4 HD. The new arrangement facilitates transmission of Channel 4 HD for the first time on
Disney Channel Announce Senior Promotions
In recognition of Disney Channel’s successful performance over the past year, the Channel has announced a raft of senior promotions across the busines
BBC to provide programming to the Community Channel
The BBC recently announced signing a content deal to supply programming from its extensive library to the Community Channel. The BBC joins Channel 4,