The Future of GB News: Mission, Expansion, and Challenges
GB News is the UK’s newest player in the fast-paced news broadcasting industry. Two years since its launch, the channel has set its sights on becoming the largest news broadcaster in Britain by 2028. With an average daily audience of around 34,000 in May, this target may seem ambitious, especially after a challenging launch plagued by technical problems and Andrew Neil’s abrupt exit in 2021. However, GB News CEO Angelos Frangopoulos remains hopeful that expanding the loss-making station into digital media and political coverage, as well as bringing its highly focused and often regional British coverage to the US market, will make the channel the preferred choice for news for all viewers.
Positioning GB News in the Mainstream
A common perception among many industry stakeholders is that GB News is the UK equivalent of US broadcaster Fox News. Presenters such as Conservative MP Jacob Rees-Mogg and former UKIP leader Nigel Farage, plus Telegraph reporter Christopher Hope, have further fueled such claims. But Frangopoulos rejects this notion, insisting that GB News isn’t right-wing but rather independent, apolitical, and with a broad cross-section of views, perspectives, and journalism. Rather than appealing to the right wing specifically, GB News seeks to be the mainstream media and aims to differentiate itself from rival groups seen as “establishment media.” Frangopoulos views GB News as “the media for the mainstream,” and this subtle difference is significant as the channel tries to attract more viewers.
Brand Awareness and Advertising Challenges
Brand awareness is a significant issue for GB News, particularly outside the “certain elite who know what GB does.” Frangopoulos believes that this has led to slower and more stable growth in terms of viewership share. The channel lost more than £30m in the year to May 2022, with £3.6m in revenue, according to accounts filed in March. News broadcasting is rarely profitable without a global reach, which is a formidable challenge for GB News. Frangopoulos has indicated that the channel is focused on addressing this challenge through increased ad ratios, more high-profile brands, and more sophisticated and high-level conversations with agencies and clients.
Expanding into Digital and Political Coverage
GB News is keen on becoming a full-service media brand. Its digital expansion has brought in a US audience, leading the company to consider investing in the region ahead of next year’s presidential election. The channel’s ambitions go beyond this, aiming to expand into the digital media and political coverage space, including the possibility of studios in Westminster and political coverage ahead of the upcoming general election. GB News is also keen on becoming a leading destination for podcasts, documentaries, and radio.
The Importance of Authenticity
GB News views authenticity crucial to its success. The channel allows for a free expression of views, which has caused problems in the past. Regulator Ofcom found GB News “significantly” in breach of UK broadcasting rules twice, most recently with an interview of author Naomi Wolf by Mark Steyn, who claimed that the Covid-19 vaccine rollout was akin to “mass murder.” Frangopoulos stressed that there needs to be room for honest opinions alongside adhering to regulator guidelines and editorial charter. Cancel culture is a concern, and Frangopoulos believes that people should not be afraid to talk about controversial topics and viewpoints, as it violates the principles of free speech and democracy.
Key Takeaways
GB News is on a mission to become the largest news broadcaster in Britain by 2028. Despite technical problems and Andrew Neil’s abrupt exit, the channel’s CEO Angelos Frangopoulos remains optimistic about the growth prospects of the loss-making station. Expanding into digital, political coverage, and bringing regional British coverage to the US market are pivotal to the channel’s expansion strategy. GB News views authenticity as the key to its success, while facing advertising challenges due to brand awareness and global reach. As GB News aims to become a full-service media brand with a rich mix of opinion and perspectives, its future growth prospects remain promising yet challenging.
Summary
GB News aims to become the largest news broadcaster in the UK by 2028. Despite challenges and controversies, the channel remains optimistic about its growth prospects. GB News plans to expand into digital media and political coverage, even bringing its regional British coverage to the US market. The channel’s success hinges on authenticity and a broad cross-section of views and perspectives. However, brand awareness and advertising challenges loom, with news broadcasting rarely profitable without a global reach. GB News aims to become a full-service media brand, notwithstanding challenges posed by regulator guidelines, editorial guidelines and the cancel culture.
Additional Piece
GB News’ ambitious plans and extensive coverage of local and regional British news could position it as a robust alternative to the established news broadcasters like the BBC and Sky News. While it has been in the news for controversial interviews and comments, GB News does offer a unique and sometimes refreshing perspective on the day’s news. Despite being a latecomer, GB News is proving its mettle as it secures high viewership ratings at strategic periods, indicating that it is on the right path.
GB News’ CEO, Angelos Frangopoulos, aims to expand GB News into a full-service media brand, making it a one-stop-shop for all news, political coverage, and thought-provoking content. Investing in the US market ahead of the presidential election shows the channel’s commitment to expansion even beyond the UK. GB News has also prioritised authenticity as the key to its success, allowing for a free expression of views while adhering to regulator guidelines.
GB News’ ambitions to become the mainstream media for news might create a welcome disruption in the news industry, particularly with Brexit, the Scottish question, the pandemic, and other issues having stoked political and social passions. It could expand into international news and be a great way for global audiences to tap into a unique and different perspective on UK and European news. Admittedly, GB News’ challenges are enormous, ranging from profit pressures to advertiser boycotts and regulatory scrutiny. However, GB News is making progress, with more high-profile brands appearing on the channel and a growing digital audience. As GB News continues to experiment with different programming formats, including special events and interviews, it remains one of the most interesting new entrants in the news broadcasting industry.
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Two years after its launch, GB News has a simple mission statement: to be the largest news broadcaster in Britain by 2028.
With an average daily audience of around 34,000 in May, the target is ambitious, said chief executive Angelos Frangopoulos.
Many analysts and media commentators have written off the channel’s chances after its launch was hampered by technical problems and his presidency Andrew Neil left abruptly in 2021.
But Frangopoulos is confident plans to further expand the loss-making station into digital media and political coverage – and even bring its highly focused and often regional British coverage to the US – will make the channel the ‘mainstream’ choice for news. .
This positioning is important for a channel seen by many in the industry as the UK equivalent of US broadcaster Fox News. The former Sky Australia executive rejects the notion that GB News is right-wing, despite a list of presenters that includes Conservative MP Jacob Rees-Mogg and former UKIP leader Nigel Farage, plus Telegraph reporter Christopher Hope , who was recently recruited to head its political team.
Frangopoulos told the Financial Times he wanted to reclaim the “mainstream media” phrase for GB News. He regards rival groups as “establishment media… We are actually the media for the mainstream. It is an important and subtle difference.
“This is not just the Farage channel; this is a broad cross-section of rumors, perspectives and journalism,” she said.
On a weekday morning, the small studio and newsroom in the basement of an office building in Paddington is bustling with activity. Presenters and reporters mingle in the small reception area that leads directly to the news floor, as the mid-morning anchor takes over.
The anchor checks his autocue: Much of GB News’ production is automated or AI-assisted, a sign of how the broadcaster tries to keep its operations streamlined as it tries to become profitable.
Brand awareness had been an issue, Frangopoulos said, outside “a certain elite who know what GB does.” This meant “slower and more stable growth”.
All-day viewership share increased from 0.43% to 0.57% over the past year. Digital viewership and listenership for his radio station is also growing, while Frangopoulos said his website first surpassed rivals such as the i newspaper in April.
But GB News lost more than £30m in the year to May 2022, with revenues of £3.6m, according to accounts filed in March. Claire Enders, media analyst, said news broadcasting is rarely profitable without a global reach, a tall order for GB News.
“We always knew it was going to be difficult,” said Frangopoulos. “It was more difficult. We are still challenged. But it’s getting better.
The channel relies on advertising to make money and faced a campaign to encourage advertiser boycotts when it launched. Frangopoulos admitted there was still some “pushback” from brands.
He added, however, that the ad ratios are changing, with the highest number since launch and “more high-profile brands on the channel.”
“We now have much more sophisticated and high-level conversations with agencies and clients. The further you go, the more the audience we lead has value. People want to sell stuff,” she said.
Frangopoulos said the channel now regularly beats rivals for ratings at certain times. Profitability was “still a little way off, but we can see it in the distance and we’re very focused on trying to accelerate it as much as possible,” he added.
Meanwhile, investors have remained engaged, he said. GB News has raised £120m in total, with hedge fund chief Paul Marshall, a Brexit supporter, and Dubai-based private investment group Legatum investing £60m last year, making it the majority shareholders after the exit of the founding American media group Discovery. The directors of All Perspectives Limited, the channel’s parent company, include City fund manager Helena Morrissey.
The deep pockets of its supporters meant that the group could invest – in new presenters and journalists, as well as studios in Westminster to broadcast its political coverage.
Frangopoulos also wants to make GB News a “full-service media brand”. The digital expansion has brought in a US audience, leading the company to consider investing in the region ahead of next year’s presidential election. This month, GB News aired an interview of Farage with potential Republican presidential candidate Donald Trump.
The key for the presenters was authenticity, Frangopoulos said, although allowing for a freer expression of opinion did cause some problems.
Regulator Ofcom had found the channel ‘significantly’ in breach of UK broadcasting rules twice, most recently with an interview by author Naomi Wolf by Mark Steyn who described the Covid-19 vaccine rollout is akin to ‘mass murder’.
Frangopoulos said that Steyn is no longer working for the channel and that “no talent, no matter how talented he is, how many plays he is getting, is above the regulatory environment and our editorial charter.”
But, getting back to the core of GB News’ proposal, he added that there needs to be room for honest opinions, and he was concerned about the “cancel culture”.
“People shouldn’t be afraid to talk about things. Why are those viewpoints being deleted? he said. “People trying to undo do not agree with these views. It’s hurting democracy.”
https://www.ft.com/content/49c8d091-2be3-4339-a041-05e9cb3865c8
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