i bet you think we only have two channels too? BBC1 and 2.
There's 5 non-satellite channels, 3 of which are funded by advertising. There's also about 20 free-to-air channels, all of which barring the bbc news, bcc 3+4 and the childrens bbc channels are all advert driven. Then there's about 50-100 other channels that are all advert driven.
The ITV channel has been advertisment driven for 50 years.
So in short, no we have advert driven television too.
Sky are advert and subscription driven, The Colour of Magic is produced for Sky One which is there light entertainment channel.