Netplay TV extends teleshopping contract with Channel 5

Netplay TV has signed an extension of its contract with Channel 5 until 2018, where it will continue to provide its post midnight teleshopping airtime and "significant" pre-midnight advertising.The new deal also makes provisions for new brands and show formats, which the company said it will strengthen its product offering and brand awareness.Chief executive Bjarke Larsen said: "The strengthened deal and relationship with Channel 5 creates an effective platform from which we can increase the reach of our brands."It is our intention to develop new show formats for brands under the NetPlay umbrella, which will continue the trajectory of our brand awareness and broaden their appeal."Channel 5 deputy commercial director Agostino Di Falco said to be "encouraged by NetPlay's desire to take full advantage of its airtime through the development of new show formats which will create further value for the partnership".Analysts at Northland Capital commented that the news should be "well received" and the shares should trade well as a result.Shares in Netplay Tv were up 2.08% to 08:45.