Money 24 relies on all channels
No stock market slump can dampen Schawinski's optimism for his financial channel
The stock market slump can't dampen Schawinski's optimism for his financial broadcasterThe stock market slump can't dampen Schawinski's optimism for his financial broadcasterBy Daniel Schifferle
Roger Schawinski wants to launch his new channel Money 24 in just seven months. However, the fact that the two main driving forces - the stock market and the Internet - are no longer as popular as they were six months ago does not worry the Swiss champion in launching new TV channels.
Obtaining the license was a comparatively easy matter for Money 24. Nobody was really seriously opposed to it. Not even the SRG had any objections. The main reason: no one is afraid that Money 24 could take anything away from them in the advertising market.
Shouldn't this lack of concern on the part of the competition towards the new financial broadcaster be all the more reason for pessimism about its chances? Belcom boss Roger Schawinski waves it off. He sees the reason for the SRG's liberal attitude. Now that the revision of the Radio and Television Act (RTVA) is in the hot phase, it has to behave in a politically correct manner and "act as if they were model boys so that they can get their version of the RTVA through. That's the real reason why they had nothing against Money 24," says Schawinski.
What is certain is that the market reality for the new broadcaster will hardly be as friendly as the political environment. The stock market has been rocking low for months. In this environment, the newcomers who usually start buying shares during boom times will naturally stay away. But it was precisely this expansion of the public that Money 24 was counting on when it was announced last summer (WW 31/00). But the stock market crisis does not worry Schawinski. "Every low is followed by the next high, that's a truism," he is convinced.
Money 24 wants to be
Be present on all channels
The current uncertainty about the future role of the Internet is also of little concern to the Belcom boss. The Internet started with completely wrong premises. "At first, the focus was entirely on banner advertising and we were convinced that this was the way forward. Then came the visions with the
E-commerce, and that won't work either," he says, "but the interactive possibilities in connection with securities trading have a future; everyone agrees on that."
Which transmission channels will be most in demand in the future, whether Internet or UMTS technology, is not decisive for Schawinski. "We offer our programming on both analog and digital TV and on the Internet. Whether and how usage will shift between the different platforms is therefore not a priority for us, as we will be represented on all channels."
However, he is optimistic that the Internet and UMTS will prevail. "Banks are currently investing huge sums in Internet platforms. In the future, banking transactions will no longer be conceivable without the Internet," he is convinced.
For the same reason, he is also optimistic about UMTS, which has so far only existed as a vision and speculation. "Hundreds of billions of francs are now being invested in Europe, so it's logical that something will emerge," says Schawinski. He is even convinced that Money 24 will be indispensable for new transmission technologies in particular. "These new technologies need killer content to get off the ground. And that's exactly what we will be able to offer with Money 24," he says.
The Belcom Group has not yet provided any news on the key figures for the new channel (see box). It does not want to communicate any detailed figures at this time because everything is currently being calculated. Only this much: the annual budget will deviate insignificantly from the CHF 12 million originally mentioned.
Regarding the partners from the banking sector that Money 24 still needs alongside Cablecom and its Internet subsidiary Swissonline, Schawinski explains that preliminary contracts are already in place. "That will make for a strong package," he says.
The Money 24 editorial team has a huge task ahead of it, with a target of 20 journalists. However, the "Money" program currently only employs five people; 15 additional employees still need to be recruited. Not an easy task in a dried-up job market. Will the remaining seven months until the launch on October 1 be enough to implement the concept? "We have always met our deadlines," says Schawinski, but qualifies: "If it is still a month late, then the world won't fall apart."
Money 24 relies on the InternetMoney 24 aims to cover stock market events around the clock, with background reports, live broadcasts from national and international trading centers, direct broadcasts of media conferences and interviews. The main broadcasts start at 6 a.m. with reports from the USA and Asia as well as a national and an international daily preview. The program is continuously updated throughout the day.
The editor-in-chief and project manager of Money 24 is Martin Spieler, COO (Chief Operating Officer) of the Belcom Group. The new channel anticipates annual revenues of CHF 10 to 12 million. The break-even point should be reached in the third year.
It will be financed primarily through income from the planned Internet finance portal and from contracts with Internet providers. Money 24's strategic partners on the Internet are Cablecom and its Internet subsidiary Swissonline. According to Schawinski, further strategic partnerships with companies from the financial sector are about to be concluded and will be communicated in the coming weeks. Money 24 is produced in the studios of Tele 24 and TeleZüri.
Roger Schawinski wants to launch his new channel Money 24 in just seven months. However, the fact that the two main driving forces - the stock market and the Internet - are no longer as popular as they were six months ago does not worry the Swiss champion in launching new TV channels.
Obtaining the license was a comparatively easy matter for Money 24. Nobody was really seriously opposed to it. Not even the SRG had any objections. The main reason: no one is afraid that Money 24 could take anything away from them in the advertising market.
Shouldn't this lack of concern on the part of the competition towards the new financial broadcaster be all the more reason for pessimism about its chances? Belcom boss Roger Schawinski waves it off. He sees the reason for the SRG's liberal attitude. Now that the revision of the Radio and Television Act (RTVA) is in the hot phase, it has to behave in a politically correct manner and "act as if they were model boys so that they can get their version of the RTVA through. That's the real reason why they had nothing against Money 24," says Schawinski.
What is certain is that the market reality for the new broadcaster will hardly be as friendly as the political environment. The stock market has been rocking low for months. In this environment, the newcomers who usually start buying shares during boom times will naturally stay away. But it was precisely this expansion of the public that Money 24 was counting on when it was announced last summer (WW 31/00). But the stock market crisis does not worry Schawinski. "Every low is followed by the next high, that's a truism," he is convinced.
Money 24 wants to be
Be present on all channels
The current uncertainty about the future role of the Internet is also of little concern to the Belcom boss. The Internet started with completely wrong premises. "At first, the focus was entirely on banner advertising and we were convinced that this was the way forward. Then came the visions with the
E-commerce, and that won't work either," he says, "but the interactive possibilities in connection with securities trading have a future; everyone agrees on that."
Which transmission channels will be most in demand in the future, whether Internet or UMTS technology, is not decisive for Schawinski. "We offer our programming on both analog and digital TV and on the Internet. Whether and how usage will shift between the different platforms is therefore not a priority for us, as we will be represented on all channels."
However, he is optimistic that the Internet and UMTS will prevail. "Banks are currently investing huge sums in Internet platforms. In the future, banking transactions will no longer be conceivable without the Internet," he is convinced.
For the same reason, he is also optimistic about UMTS, which has so far only existed as a vision and speculation. "Hundreds of billions of francs are now being invested in Europe, so it's logical that something will emerge," says Schawinski. He is even convinced that Money 24 will be indispensable for new transmission technologies in particular. "These new technologies need killer content to get off the ground. And that's exactly what we will be able to offer with Money 24," he says.
The Belcom Group has not yet provided any news on the key figures for the new channel (see box). It does not want to communicate any detailed figures at this time because everything is currently being calculated. Only this much: the annual budget will deviate insignificantly from the CHF 12 million originally mentioned.
Regarding the partners from the banking sector that Money 24 still needs alongside Cablecom and its Internet subsidiary Swissonline, Schawinski explains that preliminary contracts are already in place. "That will make for a strong package," he says.
The Money 24 editorial team has a huge task ahead of it, with a target of 20 journalists. However, the "Money" program currently only employs five people; 15 additional employees still need to be recruited. Not an easy task in a dried-up job market. Will the remaining seven months until the launch on October 1 be enough to implement the concept? "We have always met our deadlines," says Schawinski, but qualifies: "If it is still a month late, then the world won't fall apart."
Money 24 relies on the InternetMoney 24 aims to cover stock market events around the clock, with background reports, live broadcasts from national and international trading centers, direct broadcasts of media conferences and interviews. The main broadcasts start at 6 a.m. with reports from the USA and Asia as well as a national and an international daily preview. The program is continuously updated throughout the day.
The editor-in-chief and project manager of Money 24 is Martin Spieler, COO (Chief Operating Officer) of the Belcom Group. The new channel anticipates annual revenues of CHF 10 to 12 million. The break-even point should be reached in the third year.
It will be financed primarily through income from the planned Internet finance portal and from contracts with Internet providers. Money 24's strategic partners on the Internet are Cablecom and its Internet subsidiary Swissonline. According to Schawinski, further strategic partnerships with companies from the financial sector are about to be concluded and will be communicated in the coming weeks. Money 24 is produced in the studios of Tele 24 and TeleZüri.
