Pan-European news channel sees big change in fortunes after an ill-fated attempt to merge with NBC and severe cutbacks under new owners.
- Broadcaster laid off half its staff and moved out of its HQ.
- At one point there were doubts if Euronews would be able to stay on-air.
- Fortunes of Euronews contrasts with other news outlets.
Euronews’ chairman Pedro Vargas David announced that the news outlet returned to profitability for the first time in a decade, heralding in a new chapter for Euronews, with plans to expand across the continent and beyond.
The channel had gone through a financially disastrous transformation in the late 2010s, splitting the single video feed dubbed in different languages. Instead, new language feeds able to carry different content and advertising were launched. On the English language feed, available on Sky, on-screen presenters were introduced alongside new live programmes.
NBC took a minority share in the channel, putting Deborah Turness (now BBC News CEO) in charge of the channel. By the time NBC sold its stake in April 2020, most of the newly launched English language shows had been axed and the channel faced an uncertain financial future. Media Globe Networks, the remaining primarily shareholder was forced to issue emergency loans to keep the news channel afloat.
In December 2021, Alpac Capital announced it was to buy Media Globe Network’s stake in Euronews, a move that completed in 2022, when the channel posted annual losses of €20 million. In the UK
Under Alpac Capital, around half of the channel’s staff was laid off. It moved out of its Lyon HQ, opening up a new central newsroom in Brussels.
Expansion plans
The Euronews chairman also announced the further expansion of the channel with the launch of the new Polish service on television and online platforms based in Warsaw. Two further Euronews franchise channels will also be opened this year in Bosnia and Herzegovina and Montenegro, followed by two others later in 2025.
In 2024, Euronews reached an unprecedented 31.5 million monthly active users and 1.06 billion page views across its digital platforms in 2024, marking an all-time high in audience reach. The network’s video content also saw remarkable engagement, with more than 1.6 billion video views. On top of that, Euronews has 33.2 million followers across YouTube and social media platforms, and 2.8 billion impressions across these platforms, underscoring the network’s global reach.
Pedro Vargas David hailed this week’s profit announcement as “an amazing turning point for Euronews.” He added: “So Euronews is back, Euronews is strong, and we look forward to the next chapters.”
Contrast to other news outlets
Euronews returning to profit and planning to expand contrasts with issues affecting many other news broadcasters. Recent weeks have been dominated by news of cuts at CNN, Sky News and BBC News. GB News, although not cutting staff, reported a loss in 2024.
- Euronews is available in the UK on Sky and Virgin Media. Euronews is also available as live stream on the web and through the Channelbox portal on Freeview channel 271.
By: Marc Thornham | Image: Euronews