Channel 4 released its 2024 Annual Report, highlighting a year of strong performance across digital innovation, creative output, and financial stability. The report outlines how the broadcaster’s Fast Forward strategy continues to deliver tangible results in a fast-changing media landscape. Below, we explore the key developments that marked the year.
To begin with, Channel 4 reported total revenues exceeding £1 billion for the fourth consecutive year, reaching £1.04 billion. Crucially, it achieved this while significantly narrowing its pre-tax deficit before exceptional items to just £2 million—down £50 million from the previous year. This financial resilience comes alongside a major shift in revenue streams, with 39% now coming from non-linear sources, underscoring the success of the Fast Forward plan.
In terms of digital growth, 2024 was a record-breaking year. Streaming views rose by 13% to 1.8 billion, now representing 18% of total viewing. This outpaced growth across rival platforms, establishing Channel 4 as a market leader among UK public service broadcasters. In parallel, digital ad revenue jumped 9% to £306 million, making up 30% of overall revenue—double the market average and a full year ahead of the 2025 target.
Meanwhile, content investment remained a top priority. Channel 4 invested £643 million in content, including £489 million in original UK programming—representing 62% of its revenue and outpacing all competitors in proportional spend. Its commitment to regional representation also grew, with spending in the Nations and Regions increasing by 4% to £200 million.
In addition, the broadcaster made major gains on social platforms. YouTube views surged 26% to 340 million in the UK, while full-episode viewing rose by 169%. The youth-focused Channel 4.0 channel doubled its views, and the organisation expanded reach on platforms like TikTok and Instagram. A notable innovation came with Channel 4’s recent announcement to bring long-form video content to Spotify—marking a first for a UK broadcaster and signaling a bold move into cross-platform expansion.
Creatively, 2024 was a standout year. Channel 4 won 106 major awards, including BAFTAs, International Emmys, and Grierson Awards. Its factual programming had both impact and scale, with "The Jury: Murder Trial" and "To Catch a Copper" garnering widespread acclaim. Entertainment formats like "The Piano" and "Married at First Sight" UK delivered record audiences, while Channel 4 News achieved 1.8 billion digital views—a 49% increase—bolstered by award-winning investigative journalism and conflict coverage.
The broadcaster also pushed boundaries in drama and comedy. Series such as "The Gathering", "Big Mood", and "Big Boys" were both bold and critically lauded. Looking ahead, Channel 4 plans to premiere a new original drama every month from 2026, with upcoming titles from Russell T Davies, Daisy Haggard, and Jack Thorne.
Further, Channel 4’s coverage of the upcoming Paris 2024 Paralympic Games is already being celebrated for its inclusivity—featuring 91% disabled on-screen talent and the UK’s first-ever deaf presenter of a live sports broadcast. Film4 also had an exceptional year, with "Poor Things" and "The Zone" of Interest earning six Oscars collectively, and "Earth Mama" and "How to Have Sex" adding to a total of nine BAFTA wins.
Structurally, the organisation is undergoing change. CEO Alex Mahon, who has led Channel 4 through this transformation into a digital-first public service streamer, will step down in July. She reflected:"In 2024, Channel 4 showed how powerfully our public service model can evolve and thrive in a changing world. Fast Forward is delivering – creatively, digitally, and commercially. I’m incredibly proud of what we are achieving. Channel 4’s purpose has never been more vital, and I leave confident that the organisation will continue to disrupt, challenge and drive the national conversation for years to come. It is a noisy, vital and extraordinary part of the public service media ecosystem and it has been the privilege of a lifetime to lead it," expressed.
She will be succeeded on an interim basis by Chief Operating Officer Jonathan Allan, who commented: “We’ve made great strides in reshaping Channel 4 into a future-facing public service streamer. Our streaming growth and digital innovation are outpacing the market, with disciplined financial management and bold content investment. The momentum is real, and I’m excited for the future," explained.
Additionally, Channel 4 announced new initiatives to support UK creativity and diversify revenue, including a plan to invest in Intellectual Property (IP) ownership. This includes the launch of a Creative Investment Fund, a phased move into in-house production, and an increase in its indie quota from 25% to 35%.