Channel 4’s television audience sunk to a record low in May amid a painful period for the British broadcaster, which is cutting costs as it navigates a cratering ad market.Channel 4’s main network audience share stood at 4.48% last month, which is said to be the worst four-week period in the commercial broadcaster’s 40-year history.One source said the ratings had sparked scenes of “panic” at Channel 4, though other insiders were more philosophical and pointed to bumper online viewing.Audiences streamed a record 5BN minutes of Channel 4 content in April, with shows including Married At First Sight Australia performing well. May’s digital performance was also up 20% year on year.Despite the shift to streaming, television viewing remains foundational to Channel 4’s commercial health, with linear advertising accounting for less than 70% of its £1BN revenue.Channel 4’s record low audience share was echoed in other ratings data. Its reach stood at 35.8M in May, according to audience body Barb. This was down 1M on April and 3.5M on May last year.Channel 4 was not alone in experiencing a ratings slump. Its closest rivals Channel 5 and BBC2 suffered year-on-year reach declines of 2.8M and 1.9M respectively in May.The figures have exacerbated concerns about Channel 4’s reliance on aging brands to bank ratings. In May, Gogglebox, which first launched a decade ago, was the only show to break into Barb’s weekly rankings of the top 50 shows across broadcasters and streaming services.Channel 4 has repeatedly insisted that it is in “rude creative health” and there is evidence it has enjoyed critical success in recent months, not least its best haul of BAFTAs in 22 years.Shows such as The Piano, a search for the UK’s best amateur pianists from Great British Bake Off producer Love Productions, are a source of pride internally. Fronted by The Traitors host Claudia Winkleman, The Piano drew audiences of up to 3M and is expected to return for a second season.On Wednesday, Channel 4’s Chief Content Officer Ian Katz attempted to calm unrest in the production sector over the broadcaster’s performance and content cuts.In an email to producers, obtained by Deadline, Katz acknowledged that it was a “difficult” period, but called on suppliers to hold their nerve as Channel 4 rides out the advertising downturn.All ad-funded broadcasters are experiencing turbulence, but producers accused Channel 4 of failing to forecast the severity of the slump. There is also anger that it has not clearly communicated its issues.Deadline published a detailed piece on the woes last week, revealing that Channel 4 had axed four shows close to production and was asking producers to cash flow content at short notice.Producer dismay has been compounded by Channel 4’s top executives being rewarded with six-figure loyalty bonuses, which they decided to defer amid rising anger.Channel 4 said: “Channel 4 is well ahead of other broadcasters in its digital transformation. We have been actively prioritising our digital growth to be where the audience is, particularly young viewers, and while this will shrink linear viewing, it is the right strategy for the future.“April was Channel 4’s biggest month ever for streaming views and almost two thirds of viewing to the latest Made In Chelsea series in May was streamed. We would expect this trend to continue over the next few years.”The company has a 30% digital revenue target and its 2022 annual report will show that it is on course to meet this goal over the next two years. It is ahead of other UK broadcasters with this ambition.
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