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Channel 5 Profits Dip, But Boosts Content Spending Amid Streaming Growth
2 Oct
Summary
- Channel 5's operating profits declined 81% in 2024
- Channel 5 increased content spending to a 3-year high of £216.6M
- Channel 5's streaming platform saw 53% growth in viewership
According to the article, in 2024 UK broadcaster Channel 5 experienced a significant decline in its operating profits, which fell 81% from £112.4M in 2023 to £21M. This drop was largely due to a £80.9M payment the network received from Sky Media in 2023 after an accidental underpayment.
However, despite the profit dip, Channel 5 continued to invest heavily in local content, with its content spending reaching a 3-year high of £216.6M in 2024. This contrasted with competitor Channel 4, which slashed its content budget by 3% to £643M over the same period.
Channel 5's streaming platform, known as 5, also saw impressive growth, with a 53% increase in viewership compared to 2023, making it the fastest-growing streamer among the UK's public service broadcasters. The platform's biggest title was the documentary "My Wife, My Abuser," which spotlighted a man who was abused by his wife for 20 years.
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Speaking at the Edinburgh TV Festival in August 2025, Channel 5's chief content officer Ben Frow said the network would be backed in a fresh era for its parent company Paramount, with new international chief Kevin MacLellan expressing keen interest in the channel's future.
