Can Channel 4 adjust in time?

I was watching a particularly excrutiating episode of Come Dine with Me on Channel 4 at the weekend when I realised, during a commercial break, that it is advertisers who have adjusted better to the recession than broadcasters. Naturally the break was full of offers, and not just for sofas or DIY stuff. But underlying almost all the commercials was a 'simple life' message - an adjustment to the times in which we live.

In contrast broadcasters have adjusted their schedules by reversioning existing shows and playing out their programme back-log. You feel they're still hoping business will pick up - rather than deciding its time to face up to a different future.

It's a future where money will not be so readily available to broadcasters. How different will it be?

One big adjustment is already underway, as commercial broadcasters lay off staff. Part of the problem is the imbalance between public and commercial broadcasters. The latter are in real trouble and are aggressively tackling their costs. The BBC simply doesn't have the same problems. So - if commercial TV reduces the number of executives and the scale of pay falls, this will leave public broadcasting out of step. I thought the idea that David Cameron will insist all public service chiefs who earn more than the Prime Minister should appear before the Chancellor to justify their pay points the direction.

Beyond executive pay, can Channel 4 adjust to a lower cost business model? It will mean more than arguments over whether drama is too expensive to commission. And it will affect all aspects of television - if 'fat cat' executives are called to account, it will be no suprise to see reciprocal pressure on 'fat indies'. Production costs are bound to come under increasing pressure and those companies which can operate efficiently at lower cost may become as interesting to broadcasters as those which have enjoyed the format boom of recent years.

How quickly will this happen? Soon, I think, if the lesson of the 'half price, simple life' commercial break is learnt.