Due to the high distribution and staff costs on one side and the insufficient TV advertising revenues on the other side joiz GmbH has also submitted an application for financial recovery to continue operations under its own administration, the Berlin-based broadcaster announced in a statement.
The management will intensely focus on restructuration of the channel in the forthcoming months. The measure only affects joiz GmbH which operates the joiz TV channel in Germany. The companies joiz AG, joiz Schweiz AG and joiz IP AG which markets the technology as joiz Global are not affected.
The programme schedule will continue to contain daily in-house produced interactive shows as well as TV series. The target would be to retain as many of the current 65 employees as possible, affirms the broadcaster.
The classic TV advertising turnover remained “clearly under expectations”, said Alexander Mazzara, CEO of joiz AG. “We therefore sadly don’t see a perspective for joiz as a free-to-air TV channel in the German free-to-air TV market in the medium term and want to focus with our offering on the web and on free-of-charge digital distribution platforms onto the core types of media of our young target group.”
joiz launched in Germany on August 5, 2013 modeled on the Swiss channel of the same name which Swiss parent company has been operating since March 28, 2011. The channel whose name resembles a combination of choice and joy offers interactive music and entertainment programmes in which viewers can participate through social media platforms like Facebook and Twitter.