Five slashes its programme budget by 25 per cent

LONDON - Five has cut its programming budget by 25 per cent this year, the biggest percentage drop of any broadcaster in the UK, blaming declining advertising revenues.

Five... budget cuts
Five... budget cuts

In 2008, its programming budget stood at £220 million, a figure that has now been slashed by £65 million to £165 million.

That puts it just above Sky One’s, which stands at around £140 million – although that is expected to rise slightly in the coming months.

At yesterday’s Broadcasting Press Guild lunch, Dawn Airey, the executive chairman at Five, said that broadcasters should think about consolidation because the market is too crowded to sustain them all.