Channel 4 Posts Record Loss on Ad Drop, Content, Transformation Investments, Touts Digital Growth
Channel 4, under the leadership of CEO Alex Mahon, announced a significant loss of £52 million ($68 million) in their full-year 2023 operations. This loss was attributed to a severe and prolonged decline in advertising revenue within the U.K., which dropped by 9%. This downturn followed a post-COVID surge and also included a deliberate reduction in spending on digital transformation and continued investment in original content.