11 months ago
Channel 5 Profits Dip Despite High Content Spending
Channel 5, a TV channel in the UK owned by Paramount, made less money last year.
While profits were down a lot from the previous year due to an unusual payment in 2023, the channel still managed to stay profitable.
They spent more money than ever on making new shows, which helped boost the number of people watching shows online.
Despite challenges, Channel 5's boss feels optimistic.
The channel has been consistently making money for many years, and is now focusing on its online streaming service.
Channel 5's operating profit fell by 81% in 2024, to £12M.
Revenue for Channel 5 declined by 1% to £314M.
Content spending by Channel 5 reached a three-year high of £216.6M.
Channel 5's streaming platform, 5, increased its viewing by 53%.
Channel 5's UK chief content officer, Ben Frow, is optimistic about the channel's future.
- Who
- Channel 5, a Paramount-owned British network.
- What
- Channel 5's operating profits and revenue declined, but content spending hit a three-year high.
- Where
- United Kingdom.
- When
- In 2024
- Why
- The decline in profits was partially due to a significant payment from Sky Media in 2023, but revenue was down as well.
Key facts
- Operating Profit (2024)
- £12M
- Operating Profit Decline
- 81%
- Revenue (2024)
- £314M
- Content Spend (2024)
- £216.6M
- Streaming Platform Growth
- 53% increase in viewing
Quotes
Ben Frow
Paramount’s UK chief content officer
“I had a conversation with the new boss, who said he was very keen on Channel 5.”
deadline.com
“We can do a lot more for the business.”
deadline.com
