GB News’ £142m in losses – and counting, as the broadcaster still searches for a sustainable model

GB News’ latest accounts show that the broadcaster’s accumulated losses have now reached £142m, despite some improvement in its financial performance over the past year.

According to Press Gazette, GB News generated £17.4m in revenue in the seven months to 31 December 2025, up 16 percent from £15m in the equivalent period in 2024.

Its earnings before interest, taxation, depreciation and amortisation (EBITDA) also improved, with the loss narrowing by 26 percent from £12.1m to £8.9m.

The broadcaster’s loss before tax fell from £13.6m in the equivalent seven-month period in 2024 to £10.5m in 2025.

So, while the figures show some progress, GB News remains a heavily loss-making operation.

One of the more notable figures in the accounts is the decline in GB News’ digital audience.

Visitor numbers to its website and app fell by 63 percent over the year to 7.5 million, while page views dropped by 33 percent to 68.5 million.

GB News attributed the decline to the growing impact of AI on search, arguing that this is part of a wider trend affecting publishers and content creators.

“This broader industry trend continues to impact traffic for us and for content creators globally,” the accounts said.

The wider audience data also points to a decline. According to Press Gazette’s analysis of Ipsos iris data, the broadcaster’s website and app reached five million people in the UK in August, down 15 percent on the previous year.

That digital decline comes as the channel seeks to build a broader media business beyond television.

GB News says its average monthly TV reach, measured by viewers watching continuously for at least three minutes, increased by 21 percent year on year to 4.1 million in 2025.

Whether a three-minute continuous view is a particularly meaningful measure of sustained audience engagement is another question. Nevertheless, the growth suggests the channel is reaching more television viewers, and GB News says this is translating into increased revenue.

It has also sought to diversify its income through its membership scheme, launched in November 2023. According to Press Gazette, around 10,000 people were paying members eight months after its launch, with subscriptions typically costing between £5 and £20 a month in return for perks including members-only content, access to polls and fewer adverts.

The scale of the losses, however, remains difficult to ignore.

GB News’ losses are underwritten by its parent company, All Perspectives, whose two main shareholders are Paul Marshall and Legatum Ventures.

News of the latest losses inevitably prompted attention online.

Stop Funding Hate highlighted the £141m figure, arguing that the ability to sustain such losses while operating as a broadcaster with an explicitly political agenda illustrates the influence that extreme wealth can exert over the media landscape.

Oxford for Europe similarly drew attention to the scale of the losses and the financial backing behind the channel.

“The ability to pour hundreds of millions of pounds into a loss-making TV channel, bent on wrenching British politics sharply to the right, is yet another of the ways in which extreme wealth is trying to remake UK democracy.

“It needs to be part of any serious conversation about political funding,” wrote the group.