In the footage, the woman, who got distracted with texting her boyfriend, can be seen walking down the steps of the Mailbox shopping centre when she plunged straight into the icy water.
Not shown in the 30-seconder clip, reports indicate a man, who tried to warn the woman, ran over to her to pull her out the canal.
The woman in the video was identified as Birmingham radio newsreader Laura Safe.
"I thought ice on the canal was pavement because it looked dark in the corner of my eye," Safe told UK's The Sun newspaper. "I heard a man called out "stop" to me and I looked up at him, but it was too late by that point.
She added: "I tried to get my balance and ended up slipping into the canal. But not before I'd saved my handbag and mobile phone."
Safe, who works as a newsreader for Capital FM Breakfast Show, spent more than an hour drying off and warming up in a pizza c…