The veteran star argued that it is vital for children to be captivated by TV, and claimed there is a "responsibility" on channels to create entertainment shows for young viewers.
Chegwin told DS: "I think the saddest thing for me is the financial input. I know that sounds a bit adult...but that's where our audience comes from.
"If you don't invest in them in the early days - are they going to stick with you in the future? I don't think they will.
"I'm not saying let's go down the road of the old days of TV, but what I am saying is let's give them something creative and inventive to watch.
"You can only do that if people give you finance. I know that ITV aren't investing in kids' programmes and Channel 4 don't bother, but I do think we have a responsibility to give kids good quality entertainment."
The Cheggers Plays Pop presenter insisted that there is still a substantial audience for "good quality" children's entertainment.
He added: "They are struggling to buy in programmes to put on TV when we could quite easily give it to them and there is a massive audience. Just look at Ant and Dec when they were on Saturday morning TV, their audiences were phenomenal.
"Let's put good quality back into children's entertainment and give them the shows they want to see."