Channel 4 revenues top £1bn as digital growth offsets ad pressure
May 20, 2026 15.01 Europe/London By Julian Clover


Channel 4 reported revenues above £1 billion for the fifth consecutive year in 2025, despite continued pressure in the UK television advertising market.

The publically-owned broadcaster’s annual revenues were £1.03 billion, down 1% year-on-year, while total advertising revenues declined 2%. Channel 4 said this outperformed the wider TV advertising market, which fell 4% during the year.

Channel 4 recorded a £10 million pre-tax deficit, broadly in line with the £12 million deficit reported in 2024 after exceptional items.

The broadcaster invested £640 million in content during the year, equivalent to 62% of revenues, while operating costs excluding content were reduced by £4 million.

Streaming remained the strongest area of growth. Digital advertising revenues increased 13% to £346 million and accounted for 34% of total revenue, ahead of Channel 4’s 30% target. Streaming viewing minutes rose 15% to 72.8 billion.

Among 16-34-year-olds, 53% of Channel 4 viewing came from streaming, the highest level among UK commercial BVOD services.

Non-advertising revenue increased to £105 million, representing 10% of total revenue. Together, digital and diversified revenues accounted for 44% of Channel 4’s income, up from 39% in 2024.

Priya Dogra, CEO of Channel 4, said the broadcaster had delivered “a resilient financial performance” while reinvesting more than 60% of revenues into the creative sector.

Enders Analysis said 2025 had been “a somewhat stable year” for Channel 4, helped by a better advertising performance than ITV after three years in which the reverse had been true. However, it warned that the broadcaster now faces a volatile advertising market with its lowest cash reserves in more than 20 years.

The results were published as Channel 4 faces scrutiny over Married at First Sight UK. The broadcaster has removed past episodes from its platforms and commissioned an external review following serious allegations made by former participants. Chief executive Priya Dogra has apologised, while saying Channel 4 acted appropriately based on information available at the time.