Guardian Media Group 2025/26 Accounts: Digital Revenue Hits £126m 2026

Guardian Media Group (GMG) has published its 2025/26 statutory accounts, revealing record revenues of £282 million, the highest ever for the Guardian's news operations. The results highlight a significant shift towards digital reader revenue, which grew by 17% to £126 million, underscoring the success of GMG's global voluntary contributions model.

Digital Reader Revenue Drives Growth

The standout performer in GMG's financial results is digital reader revenue, which surged by 17% to £126 million, up from £107 million in 2024/25. This growth was propelled by an increase in digital recurring supporters, which rose by over 116,000 to reach 1.4 million. The Guardian's decade-long experiment with a voluntary contributions model has clearly paid off, with audience funding now a cornerstone of its business strategy.

Total revenue increased by 2% (£6 million) to £282 million, compared to £276 million the previous year. This growth was driven by strong performance in digital reader revenue and a robust increase in US revenues, which grew by 15% to £64 million.

Global Expansion and US Market Success

The Guardian continued to expand its global footprint, with revenue generated outside the UK increasing by 8% (£9 million) to £115 million. This now accounts for 41% of total revenue, up from 38% in 2024/25. The US market was a key contributor, with the Guardian now boasting over 500,000 recurring supporters in the region.

During the year, GMG invested in video and audio journalism, as well as US journalism, to further grow reach and impact. These investments align with the company's long-term sustainability goals and its commitment to delivering high-quality journalism to a global audience.

Financial Performance Overview

Despite the positive revenue growth, GMG reported an adjusted cash outflow of £17 million for the operating business, a decrease from £24 million in 2024. This improvement reflects revenue growth, careful cost management, and strategic investments to support the Guardian's long-term sustainability.

Key Takeaways from GMG's 2025/26 Accounts

• Record revenue: Total revenue reached £282m, the highest ever for the Guardian's news operations.
• Digital growth: Digital reader revenue grew 17% to £126m, driven by a 116k increase in recurring supporters.
• Global reach: Non-UK revenue now represents 41% of total revenue, with US revenue up 15% to £64m.
• Improved cash flow: Adjusted cash outflow decreased to £17m, reflecting better cost management and revenue growth.
• Strategic investments: Continued investment in video, audio, and US journalism to drive future growth.

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