GB News has reported a £31m loss in its first year on air, on revenue of £3.6m, but its directors remain “satisfied” with where it stands.
In its Companies House accounts for the year to 31 May 2022 GB News Limited reported advertising revenues of £2.97m, digital revenues of £564,000 and sponsorship revenue of £105,664.
However, cost of sales stood at £25.4m and operating expenses at £8.9m, producing a loss both before and after tax of £30.7m. The year before, when GB News reported no revenue, its losses were £3m.