After GB News was trailed as a “British Fox News”, thousands of #StopFundingHate supporters took action to encourage advertisers to steer clear of the “anti-woke” TV channel.
Now the controversial media outlet has revealed a staggering £30 million loss – while the CEO has repeatedly complained about the impact of #StopFundingHate on the channel’s business model.
From an early stage, there were clear and obvious warning signs about the likely direction of GB News – and sadly these initial concerns have been amply borne out.
Soon after the channel launched, one of its own contributors quit and accused GB News of “demonising trans people at every opportunity”. Just last month, the Board of Deputies of British Jews called them out for platforming “organisations that promote antisemitic conspiracy theories”. Earlier this month the broadcasting regulator Ofcom pulled them up for airing “materially misleading” statements about COVID vaccines.
So it’s no surprise that so many major advertisers have been avoiding GB News – but there are still some outliers, including Jet 2 Holidays, Virgin Media and Sky.
GB News accounts, 2021 and 2022 financial years
| Year to 31 May 2021 | Year to 31 May 2022 | |
|---|---|---|
| Revenue | £0 | £3,642,277 |
| Cost of sales | £1,577,025 | £25,408,682 |
| Gross loss | £1,577,025 | £21,766,405 |
| Operating expenses | £1,397,252 | £8,911,976 |
| Operating loss | £2,974,277 | £30,678,381 |
| Interest expense | £248 | £5,293 |
| Loss before tax | £2,974,525 | £30,683,674 |
| Taxation | £0 | £0 |
| Loss after tax | £2,974,525 | £30,683,674 |
| Cash at end of period | £1,267,579 | £1,374,483 |
If you’re a customer of any of these companies, you can help by emailing or tweeting to encourage them to rethink their support for GB News.
Together we’re making toxic media unprofitable. Thankyou for supporting Stop Funding Hate,
Richard Wilson
Director
Stop Funding Hate
PS – if you’d like to help keep up the pressure, you can donate to our work here.
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