- Share this article on Facebook
- Share this article on Twitter
- Share this article on Email
- Show additional share options
- Share this article on Print
- Share this article on Comment
- Share this article on Whatsapp
- Share this article on Linkedin
- Share this article on Reddit
- Share this article on Pinit
- Share this article on Tumblr
LONDON — U.K. broadcaster Channel 4’s balance sheet for 2011 was bolstered by the bawdy presence of teen sex romp The Inbetweeners.
The movie, a big-screen version of one of the channel’s own long-running comedy shows, bolstered the company’s financials via DVD and Blu-ray sales.
Channel 4 posted £44 million ($70.7 million) in pre-tax profits in that column on its balance sheet in 2011, down 19 percent from 2010’s levels.
The broadcaster’s annual report, published Monday, showed the channel extended to a £41.9 million ($67.3 million) deficit, compared to £6.5 million ($10.4 million) the year before. But the loss was rubbed out by income generated elsewhere.
Channel 4 chief executive David Abraham named the success of The Inbetweeners and The Iron Lady in his dispatches on the figures, noting the movie’s impacts beyond borders.
PHOTOS: 10 Top Grossing, Pre-Hunger Games International Film Franchises
Abraham said Channel 4 would add another £5 million ($8 million) to its 2012 budget for UK-originated content, taking the total to a record £455 million ($731 million).
Channel 4’s operating profit hit £40.1 million ($64.4 million) compared to £49.3 million ($79 million) the year before.
Channel 4’s total revenues rose 6.2 percent year on year to £941.4 million ($1.5 billion) in 2011, although advertising slumped £19.5 million ($31.3 million) to £622 million ($999 million) on the core channel, and its share of viewing dipped to 6.8 percent from 7 percent in 2010.
The broadcaster’s biggest turnover boost was posted over at 4Rights DVD division, which saw coin jump £21.3 million ($34.2 million), hitting £65.6 million ($105.4 million) thanks largely to The Inbetweeners Movie.
Digital revenues for its online offerings including catch-up service 4OD, also showed a healthy upward curve, hitting £52.8 million ($84.8 million) in 2011, up £8.5 million ($13.6 million).
Digital channels E4, Film4 and More4 contributed £211.4 million ($339.6 million) in revenue, up from 2010’s tally of £204.6 million ($328.7 million).
“As we stand on the cusp of convergence, many of the old tenets of broadcasting are in flux,” Abraham said in his statement to the market.
“There are huge opportunities for Channel 4 to exploit its powerful brand and the connection that audiences – particularly younger audiences – have with our programmes and content. Audiences are telling us that with so much choice available, they sometimes miss the best things on TV.”
Channel 4 forked out £592 million ($951 million) on programming in 2011 with 71% of that, some £419 million ($673.1 million), on original productions.
Sign up for THR news straight to your inbox every day
More from The Hollywood Reporter
Ed Sheeran Goes on Intimate Journey in New Disney+ Docuseries ‘Ed Sheeran: The Sum of It All’
Mark Twain Prize
Adam Sandler’s Starry Friends Toast His Comic Legacy as He Receives Mark Twain Humor Prize
Jason Ritter Jokes His First Hollywood Job Was a “Full-on Nepotism Hire” Thanks to His Dad John Ritter
Andrew Lloyd Webber Says His Son Is Critically Ill, Will Miss ‘Bad Cinderella’ Broadway Opening