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Deezer to benefit from new Channel 4 Growth Fund
By Chris Cooke | Published on Wednesday 10 June 2015
The Deezer geezers are the first company to benefit from a new initiative launched by Channel 4 called the Commercial Growth Fund, which will basically barter advertising across the broadcaster’s channels in return for equity or a revenue share arrangement.
The telly firm says that the Fund initiative will “further diversify Channel 4’s commercial strategy, bolstering its unique commercially funded, not-for-profit business model – and will also stimulate TV advertising spend from new to TV brands”.
The broadcaster is partnering on the Fund with the investment arm of German TV company ProSiebenSat.1 Media, which is already a shareholder in Deezer. Under the partnership, Deezer will produce promotional content tailored to Channel 4’s platforms, which will start to air in the autumn.
Commenting on his company’s involvement in Channel 4’s new initiative, Deezer UK MD Christian Harris said: “We could not be more excited to be announcing this partnership with Channel 4 – not only are they pioneers in their field, but their emphasis on originality in output ensures we can work towards engaging consumers in the most creative way”.
He continued: “Deezer’s primary objective in working with Channel 4 is to accelerate our partner program in the UK to provide more scale and growth. This is an important time of growth for the streaming industry as a whole, and working with the Commercial Growth Fund means we stay at the forefront of innovation”.
Elsewhere in Channel 4 news, the government has denied having any active plans to sell off the state-owned not-for-profit media firm, which is thought to be valued at around £1 billion. It follows rumours that the last government had been plotting such a scheme but was blocked by Liberal Democrat Vince Cable in his then guise as Business Secretary. Media regulator OfCom is busy reviewing public service broadcasting in the UK, but junior culture minister Lucy Neville-Rolfe has said there are currently no plans to sell off C4.
