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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.
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.
