GB News has recorded another year of substantial financial losses, with deficits widening to just over £22 million for the fiscal year ending in May 2025. This development comes despite the broadcaster experiencing a sharp increase in both revenue and audience figures, highlighting ongoing challenges in the competitive UK media landscape.
Financial Performance and Funding
The latest accounts reveal that GB News's loss for 2025 reached £22 million, which represents a slight improvement from the revised 2024 loss of £32.7 million. However, cumulative losses since the channel's 2021 launch have now surpassed an astonishing £120 million. To support operations, owner All Perspectives Ltd injected an additional £17.7 million in funding, bringing total investment to over £141 million.
Despite these losses, GB News achieved a notable revenue jump of nearly £10 million, with total income climbing to approximately £26.2 million for 2025. The majority of this revenue stream originates from advertising sales and digital product offerings, indicating some commercial traction amid financial struggles.
Audience Growth and Competitive Landscape
GB News has demonstrated remarkable audience expansion across multiple platforms. Television viewership increased by 53 percent year-over-year, while radio listenership surged by 61 percent according to data from BARB and Radio Joint Audience Research (RAJAR). The broadcaster has positioned these gains as evidence of its broadening appeal across diverse segments of British society.
Chief Executive Angelos Frangopoulos acknowledged the "inevitable challenges" associated with capturing greater market share but reaffirmed ambitious plans to become the "UK's largest news channel" within two years. This goal faces significant hurdles, as BARB figures from January indicate GB News still trails both Sky News and BBC News in weekly reach metrics.
Regulatory Scrutiny and Political Concerns
The channel's programming decisions have attracted considerable regulatory attention and political criticism. Culture Secretary Lisa Nandy expressed "particular concerns" about GB News's employment of Reform UK's Nigel Farage as a presenter, warning that such arrangements could undermine public trust in media organizations.
Former Ofcom director Chris Banatvala has publicly criticized the regulator for failing to adequately investigate complaints regarding a GB News interview featuring former US President Donald Trump. In the controversial segment, Trump dismissed human-caused climate change as a "hoax" and made unsubstantiated claims about London implementing "sharia law," with interviewer Bev Turner offering minimal challenge to these assertions.
Financial records indicate GB News owed Ofcom approximately £100,000 in regulatory fines during the reporting period, reflecting ongoing compliance issues within the organization.
Broader Media Context and Ownership
GB News's financial struggles occur against a backdrop of industry-wide challenges. Several established media companies, including Reach PLC (owner of Daily Mirror and Daily Express), The Sun, and Daily Mail and General Trust, have reported declining revenues in recent periods.
The channel is owned by hedge fund multimillionaire Paul Marshall, whose media empire has expanded to include outlets such as UnHerd and The Spectator. Marshall recently withdrew from negotiations to acquire The Telegraph newspaper, though his continued investment in GB News demonstrates sustained commitment to influencing UK media despite mounting losses.
The emergence of GB News has significantly disrupted traditional media operations and increased pressure on regulatory bodies like Ofcom to adapt oversight mechanisms for evolving broadcast formats and content approaches.
