Okay...I know there's a lot of these threads but I've just seen someone's post on DS that gave me a little idea for something similar.
Because C5 are so seemingly obsessed with their 'social media', why couldn't they have an online live feed on the website, with an optional chat box type thing around it? That way, people would be engaging in discussion whilst watching the feed, thus making it more interactive and surely more appealing to their target audience? Of course you could have a multi-camera selection (wouldn't we all love that) but even a single feed on its own with an optional chat box to get people talking would be good enough.
They could promote it all over Facebook, Twitter etc. It sounds much more of an appealing, interactive idea than just a plain online live feed.
And obviously they could still charge a subscription fee if they wanted. What's to lose?
UPDATE: Mock-up of what it could look like (but obviously done better)