GB News loss widens despite revenue jump
GB News has posted another loss-making year despite sharp growth in viewing figures, with the Paul Marshall-owned broadcaster now burning through some £120m since its launch in 2021.
In new accounts filed for the year ending in May 2025, GB News said its loss amounted to just over £22m.
That was smaller than in 2024, with its loss for the year being revised down to £32.7m from a previous £33.4m figure.
The broadcaster, which boasts the likes of Reform UK’s Nigel Farage and Tory veteran Jacob Rees-Mogg on its roster of presenters, has struggled to turn a profit around despite making strides in gaining viewers and boosting sales.
Its owner All Perspectives Ltd, which counts former Tory minister Lord Agnew as a director, gave it further funding of £17.7m, taking GB News’ balance to over £141m.
Its audience grew across both television and radio by 53 per cent and 61 per cent respectively on the year, according to figures collected by BARB and Radio Joint Audience Research (RAJAR).
GB News has trumpeted a jump in viewing figures as being testament to the channel’s reach to different corners of British society, with Sky News often singled out as a direct rival.
Officials have also talked up the prospects of competing with BBC News, though figures released by BARB in January suggest that GB News reaches fewer people than both Sky and BBC on a weekly basis.
GB News versus Sky News
Its chief executive Angelos Frangopoulos said there were “inevitable challenges” brought by taking a greater market share in media but he re-iterated GB News’ ambition to become the “UK’s largest news channel” within two years.
Some media businesses have struggled to keep revenue afloat, with the likes of Reach PLC, the owner of the Daily Mirror and the Daily Express, as well as The Sun and the Daily Mail and General Trust posting dips in revenue.
GB News said its revenue jumped by nearly £10m over the year to around £26.2m in 2025, with most of its income coming from advertising and digital products.
Hedge fund multi-millionaire Marshall has taken the media sector by storm in recent years, with his empire now spanning across other outlets such as UnHerd and The Spectator.
Marshall was recently in the running to own the Telegraph before dropping out.
The entry of the broadcaster onto the media landscape has also added to pressures on Ofcom, the regulator, and shaken up operations across other news businesses.
Culture secretary Lisa Nandy said she had “particular concerns” about GB News’ use of Farage as a presenter as it could lead audiences to “lose trust” in media organisations.
Former Ofcom director Chris Banatvala has meanwhile criticised the regulator for failing to investigate complaints related to a GB News interview in which President Trump said the fact climate change has been caused by humans was a “hoax” and London had “sharia law”.
He was quoted in a Guardian article stating that GB News interviewer Bev Turner did not present “any challenge whatsoever” to the US president.
Accounts show that Ofcom was due £100,000 over the year in regulatory fines from GB News.