Sky UK ad revenue 2019-2023

In 2023, Sky UK generated 1.2 billion British pounds in advertising revenue. A year earlier, the figure stood at 1.26 billion, which signifies a year-on-year decline of roughly five percent.

Major players losing ad revenue

An decrease of five percent is not a stellar performance, but other broadcasters have not been more lucky. The BBC, mostly funded by license fees, reported an advertising income decrease of around three percent in the fiscal year ending March 31, 2023. ITV saw an ad revenue decline of nine percent in the calendar year 2023. Its digital ad revenue, however, recorded double-digit growth. These figures highlight the challenges major broadcasters are facing in response to changing ad industry dynamics.

TV advertising losing market share but not trust

Traditional TV advertising spending in the UK reached a post-COVID-19 peak in 2022 at 3.89 billion pounds and is projected to decrease by two percent annually until 2029. On the other hand, UK digital ad spend has not seen a single year of decline in its history. This highlights the ongoing shift in advertising budgets away from traditional TV towards digital platforms. Despite this trend, TV remains the most trusted advertising medium, according to the results of a recent survey. While brands are looking for digital exposure, TV advertising continues to hold sway over consumer trust and attention.