GB News presenters Alex Armstrong and Ellie Costello on GB News Breakfast on Wednesday 30 September. Picture: Youtube screenshot
GB News grew revenue and narrowed its losses in the second half of 2025, according to its latest financial figures.
The latest figures bring the channel’s total losses to £142m for owners Sir Paul Marshall and Legatum Ventures since its 2021 launch.
The newsbrand said it was moving in the right direction despite Google and AI changes that contributed to a 63% drop in website and app visitors.
The broadcaster is realigning its financial year, meaning it has just published accounts for the seven months to 31 December 2025. Previously its accounting year ran to 31 May.
In the seven months to 31 December, GB News brought in revenue of £17.4m, up 16% compared to £15m in the equivalent seven-month period in 2024.
Earnings before interest, taxation, depreciation and amortisation (EBITDA) improved by 26% from a loss of £12.1m in the equivalent seven months in 2024 to a loss of £8.9m.
The broadcaster’s loss before tax was £10.5m in the final seven months of 2025, compared to £13.6m in the equivalent period in 2024.
Just over two-thirds (68%) of revenue came from TV advertising in the period. A fifth (21%) came from digital.
This marks a shift due to online audience changes as in the previous year digital made up 29% of revenue.
GB News said in the latest accounts that visitor numbers to its website and app dropped by 63% in the year to 7.5 million, while page views were down 33% to 68.5 million, with the decline attributed to the arrival of AI in search.
“This broader industry trend continues to impact traffic for us and for content creators globally,” the accounts said.
The GB News website and app reached five million people in the UK in August , down 15% compared to the previous year, according to the latest Press Gazette analysis of Ipsos iris data. However total minutes spent with its content by those who did visit was up 51% year on year.
GB News reported “strong growth in reach and engagement” across social media in 2025, with reach on Facebook and Youtube up by 132% and aggregate subscribers across the major platforms growing by 59% to 6.2 million.
TV audience growth was said to be translating into revenue. GB News said its average monthly reach for a three-minute continuous view was up 21% year on year to 4.1 million in 2025. In July to December it was ahead of BBC News Channel and Sky News for average viewers between 6am and 2am every month – although it has a lower total weekly reach.
Membership revenue is in growth: the seven-month revenue total (£1.1m) was almost equal to the previous full year’s total (£1.15m).
GB News launched its paid membership scheme in November 2023 and reached 10,000 people paying about eight months later. People pay between £5 and £20 per month for perks such as fewer ads on the website, members-only content, event access and polls.
Staff numbers reduced from 311 per month on average in the year to 31 May 2024 , to 263 in 2024/25, and then 233 in June to December last year.
‘Ongoing commitment to funding GB News’
Losses from GB News continue to be underwritten by parent company All Perspectives, whose two main shareholders are Paul Marshall and Legatum Ventures. Net liabilities stood at £141.3m at 31 December.
The accounts said: “The company has strong support from its investors and the directors have no reason to believe that the level of these contributions might vary to a significant degree or be recalled before the group has the resources to repay the investment…
“The parent company has a strong positive net asset position and has confirmed its ongoing commitment to funding the operations of GB News Limited. After the year end, the investors have confirmed they will provide funding which the directors believe will be sufficient to cover any expected deficit.”
A GB News spokesperson said: “GB News is Britain’s number one news channel and is going from strength to strength. These results show our revenue is rising, our costs are falling and we are on track towards delivering sustainable profitability.
“Our audiences continue to grow strongly across television, radio and social media. We are proud of the momentum we are building.
“Our investors have confirmed their ongoing commitment to funding GB News as we continue investing in our people, our journalism and the stories that matter to communities across the UK.”
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