Sky News has revealed plans for a major revamp of both its programming and newsroom.
In a speech to staff, David Rhodes, Executive Chairman, Sky News Group, said the broadcaster would reshape its digital-focused service over the next five years to attract new audiences willing to pay for news.
Rhodes went on to tell staff that with revenue streams from advertising and sponsorship “largely stagnant”, new income streams were required and paid products, such as podcasts, live events and subscription-based services than would hold some content back for those willing to pay.
While the 36-year old rolling news channel would continue to play a part, the Financial Times reported Rhodes said priorities and resources would be shifted to these premium content tiers.
Sky News is not alone in looking at ways to address changing viewer habits. CNN has recently announced a change to its domestic schedule, accompanied by 200 redundancies and last year the BBC combined its domestic and international services into a single channel.
In the UK, Sky competes with both the BBC and GB News, which after a shaky start has gained audience to the extent It briefly overtook Sky in November 2024. Viewers are also using social media platforms such as YouTube and TikTok to get their news.
Funding commitments from Comcast when it acquired Sky in 2018 will expire in 2028, meaning that now is the time to shore up the award-winning broadcaster for the future.
