Euronews discusses financial strategy
November 4, 2013 08.43 Europe/London By Chris Dziadul
Euronewsongoogle.jogEuronews needs to benefit more financially from the fact that it is the second most watched news channel in the world on YouTube behind Russia Today, with some 10 million unique visitors a month, according to Michael Peters, the companyís CEO.
Speaking to Le Figaro, he added that although YouTube channels are easily monetised, Euronews sells advertising but is not making enough money.
It is therefore imperative for it to raise its rates.
Speaking more generally about revenues, Peters said that 20 years ago, they were provided entirely by its shareholders, while 10 years ago they contributed 50%. Today, the figure is only 8% and the aim is for Euronews to be completely self-financing within the next five years.
Peters added that Euronews is currently the only European brand on Google Glass.
Although there is currently no economic model for monetising this, the channelís presence shows that it is a pioneer.
He also said that by launching Euronews Networks, which is a news agency, Euronews was allowing itself diversify its revenues and that such activities should, eventually account for 10% of its revenues.
Peters said that Euronews is now far ahead of CNN International and BBC World News as the leading international news channel in Europe, with 7 million viewers a day.
He dismissed the possibility of LCI becoming a FTA channel and therefore a threat to it in France, saying that Euronews wants to stay neutral in debate because it is a European chain and therefore places itself above the fray.