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Price-drop TV. Online Price-Drop Auction. price-drop tv (which dropped the dot from its name price-drop.tv on 21 January 2005, but still remains as part of the website's domain name) is a shopping channel owned by sit-up Ltd and is focused on falling prices, using a form of uniform-price Dutch auction. It began broadcasting from 4 pm to midnight, Wednesdays to Saturdays, on 11 June 2003. The hours of live broadcast have been extended to 7:45 am – 1:30 am, 7 days a week. It is available to more than 12 million homes in the UK, and makes weekly revenue of over £3 million. Its place on Freeview was once insecure, as ITV plc hoped to launch a new channel, called ITV3 in its place. On 1 October 2004, price-drop.tv started broadcasting on a different multiplex to avoid this conflict. Prior to December 2004 each 'price drop' started at the guide price. After guide prices were removed it is no longer possible to judge how closely the starting prices reflect the true value of products. A certain number of units of a product are advertised at a specified price, and buyers can place orders by telephone. The price is decreased in steps until all units are sold. All purchasers pay the final, lowest, price. Occasionally the channel has promotions where a small number of products "Megadrop" to £1 during a special event (it appears to be random, but directors choose which products will Megadrop beforehand). Megadrops are also used on bid tv, but price-drop tv was the first to use the promotion. sit-up Ltd's shopping channels are interactive, with customers' names scrolling on screen as they phone in. Orders can be placed by telephone, or over the Internet (without the need for a television).
In October 2005 a start price graphic was introduced, effectively reinstating guide prices - but changing the wording to "start price" to show that the starting price is not a one that other retailers would be selling the product for, but just where the price begins. Until 10 May 2006 prices were stated in pounds only; on that date the graphics were changed and products are sold in pounds and pence. On 5 January 2009, price-drop tv was removed from Freeview, due to sit-up Ltd losing its license to broadcast on multiplex A. This was because it was outbid for renewal of its carriage contract by a new channel and competition for Freeview capacity is fierce. sit-up Ltd's other channel bid tv was not affected and has continued to broadcast uninterrupted to this day. As of 22 August 2009, bid tv was broadcasting an advert advising viewers that price-drop tv will be available on Freeview shortly and that a channel rescan will be required. The new channel number is confirmed to be channel 37. The channel will be broadcasting on Freeview 8am to midnight everyday. According to the sit-up Ltd. website, the channel launched on the 27 August 2009.
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