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Rebranded Channel 5 returns to profit despite advertising hit
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City AM
Rebranded Channel 5 returns to profit despite advertising hitDan Walker presents the news and documentaries on 5.
Broadcaster 5 returned to profit despite its turnover falling by almost £80m during its latest financial year, it has been revealed.
The business, which is owned by Paramount, has posted a pre-tax profit of £30.6m for 2024, new accounts filed with Companies House show.
The broadcaster said the reduction in its turnover reflected “a combination of a challenging linear advertising market and adjustments in programme expenditure to safeguard Channel 5’s position in a competitive environment”.
It added: “2024 marks Channel 5’s fourth consecutive year in operating profit since 2020 when the market was materially impacted by the Covid-19 pandemic.