EMAP Digital and Channel 4 are launching a joint venture to target the youth market by developing a product portfolio using elements of their brands.
The first product will be a multi- platform destination website that combines content from youth brands such as EMAP’s J17, PlayStation Plus and Smash Hits and C4’s new E4 entertainment channel.
Products are being developed to use all digital routes to market – both narrowband and broadband, as well as fixed line and mobile.
A managing director and marketing director are to be appointed to the new company from within either EMAP or C4. Once in place, they are expected to hire a creative and media agency to work on products as they arise.
EMAP Digital chief executive Paul Keenan says: “We hope to launch the site by the end of the last quarter. It will be a new brand and have a lifestyle remit.”
Both parties refuse to indicate how much money they have invested in the venture. But it is known that EMAP is to invest &£250m over the next three years to launch, develop and acquire digital businesses.
The announcement of the joint venture came as EMAP released full-year results showing normalised pre-tax profits up 14 per cent to &£184.3m for the year to March 31, on total group revenue of &£1.103bn.
EMAP Advertising, which was set up under the company’s new structure to sell advertising across all EMAP brands, has so far delivered more than &£2m of new revenue from cross-media deals which would not otherwise have been possible.