British broadcaster GB News has amassed losses of more than £30 million in its first full year on the air, after investing in numerous presenters including Eamonn Holmes and Nigel Farage. Figures from the news channel’s company accounts showed that it sunk deeper into a loss in the year to May 2022, after launching the channel in June 2021.
It racked up £30.7 million in a pre-tax loss over the period, on revenues of £3.6 million. The majority of its revenues – over £2.9 million – came from advertising. GB News said its directors are “satisfied” with the results for the year and expect growth in the future performance of the company.
The broadcaster paid more than £11 million in wages and salaries to its staff during the year. The TV service has invested in a number of Conservative MPs to present shows, with Lee Anderson set to became the latest to host a show on the channel.
