YouView spent £20m in first nine months
January 10, 2012
YouView, the UK VoD service, spent almost £20 million (€24.2m) in its first nine months of operation. The troubled joint venture backed by the BBC, ITV, TalkTalk, Channel 4, Channel 5 and BT, received £20.2 million from shareholders in the period from 8 July 2010 to 31 March 2011.
The first Companies House filing for YouView shows that £14.5 million was spent on developing the product as it as yet has no set-top boxes to sell. A further £5.2 million was spent on “administrative expenses”. YouView spent £1.1 million on staff, which numbered 15 at the time.
In February last year YouView confirmed that the launch will be delayed until “early 2012”, with the London Olympics set as a deadline for hitting the high street.
The company has been beset by development issues with STB partner Technicolor pulling out in March last year.