I found this article by Fontsmith which gives more information about the font and the importance it has with brand identity.

The article the process of creating a font and the importance it has on a brand suggesting the font has become 'synonymous with the brand and is capable of standing alone without the need to display the Channel 4 logo...Type is an incredibly effective branding tool'.
I believe this to be correct as, as a regular consumer of Channel 4 shows, I would instantly recognise the typography and associate it with the channel.
Below are some adverts by Channel 4 for shows which I believe show how effective the typography is of the brand:



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