Channel 4’s revenues have exceeded £1 billion for the first time, growing by 25% year-on-year to £1.2 billion, according to figures in its 2021 annual report.

This marks an increase of 18% on the channel’s 2019’s pre-pandemic revenues.

C4 training - alex mahon

Alex Mahon: Chief Executive, Channel 4

A pre-tax surplus of £101 million broke 2020’s previous record figure of £74 million, boosting the organisation’s net cash reserves to £272 million.

Nearly one-fifth (19%) of total corporation revenues came from digital advertising, an increase of 40% year on year. The broadcaster is aiming to hit a 30% digital advertising revenue target by 2025.

All4 delivered a 21% growth in streaming views to more than 1.5bn views in 2021, 13% of total Channel 4 viewing.

Increased spending on content

Channel 4 said it is on track to spend over £700m on content in 2022, the highest level in its 40-year history.

The annual report was published just weeks after the resignation of Boris Johnson, whose government has sought to privatise the broadcaster. However, analysts think that privatisation may be on hold following Johnson’s departure – and may not be picked up as a policy by his successor.

Channel 4 Chief Executive Alex Mahon said: “These results demonstrate that Channel 4’s business model delivers dynamic growth, revenue diversification and long-term sustainability. Financially, Channel 4 is in the most robust health it has ever been and our results have laid the foundations for ongoing investment, financial success and stability.”