Digital Publisher Revenues up by 3.88% YoY in Q4 2025, AOP and Deloitte Data Reveals

Digital Publisher Revenues up by 3.88% YoY in Q4 2025, AOP and Deloitte Data Reveals

Published: 08 Apr 2026

Digital Publishers' Revenue Index shows fourth consecutive quarter of overall growth, though more publishers report revenue declines than in Q3 2025

London, UK, 8^th April 2026: The latest Digital Publishers' Revenue Index (DPRI) from the Association of Online Publishers (AOP) and Deloitte reveals that participants' revenues grew by 3.88% year-on-year (YoY). Total revenues for the quarter were £180.72m, with 46% of publishers reporting revenue growth and 54% reporting declines, compared to a 50-50 split in the previous quarter.

Growth was bolstered by a 24.07% YoY uplift in subscriptions revenue, though there was a slight decline of -0.27% in display revenues. Despite this, display advertising (£63.35m) was the largest revenue category closely followed by subscriptions (£60.61m) in Q4 2025. This meant that display cemented its position at the top for the second quarter in a row, after Q1 2025 saw subscription revenues surpass display advertising for the first time and Q2 had them neck-and-neck.

Further notable growth drivers were the off-platform, sponsorship and both recruitment classified and 'other' classified categories. Off-platform revenue rose by 17.11% YoY, with sponsorship revenue increasing by 5.71% over Q4 2024 and accounting for £23.16m of the overall total. The increase seen by recruitment classified was a more modest 1.45% YoY, however, this is a positive result for the category which hasn't seen quarter-on-quarter growth since Q3 2022. The 'other' classified category showed growth of 147.6%, coming on the back of 117.59% growth in the previous quarter, although this continues to represent one of the smallest proportions of overall revenue at £2.60m. Among other categories, the most notable decline was in digital audio which declined by -51.97%, while video revenues dropped by -7.76% YoY.

Among B2B publishers specifically, the highest revenue growth was seen from sponsorship (86.78%), followed by display (12.72%), video (10.53%), and subscriptions (5.92%). Overall quarterly revenue for B2B publishers was £16.16m, up from £15.24m in Q4 2024, an increase of 6.04% YoY. The picture for B2C publishers was more variable, with revenues declining across display (-0.75%), video (-8.55%) and digital audio (-51.97%), while the sponsorship (11.38%), 'other' classified (147.62%), subscriptions (28.03%) and off-platform (17.11%) categories all saw growth. Overall revenue for B2C publishers was £164.57m, up 3.67% YoY.

While total revenues continue to increase, the distribution of this growth is uneven. Around a third (31%) of respondents reported YoY growth of more than 25%, and no publishers reported a revenue decline of more than 25%, however, the majority (54%) suffered overall revenue declines.

Future growth strategies are multi-faceted, with 100% of respondents saying that growing advertising revenues, the introduction of new products and services, and acquisitions are all high priorities for their business over the next 12 months. Most notable YoY changes are seen in acquisitions, which were a priority for just 25% of respondents in Q4 2024, and non-advertising revenue which is a priority for just 50% in Q4 2025, compared to 100% in 2024. All respondents also said they would look at making cost reductions over the next year, compared to 75% of respondents in Q4 2024.

Andy Cowen, lead partner for telecoms, media and entertainment at Deloitte, said: "The DPRI's finding of a fourth consecutive quarter of overall revenue growth for digital publishers is encouraging, demonstrating the sector's resilience. While subscriptions and display advertising remain strong drivers, the uneven distribution of this growth highlights the ongoing need for strategic agility. Publishers are rightly focusing on innovation, new products, and acquisitions, alongside essential cost management, to secure future success."

Richard Reeves, Managing Director at AOP, commented: "Four consecutive quarters of growth is a genuine landmark for the sector, and it's particularly pleasing to see both subscription and display advertising continue to perform strongly in the same quarter. However, there is still work to be done to ensure revenue growth is seen consistently across the industry. With publishers united around bold growth strategies, from new products to acquisitions, I'm optimistic that future growth will be both sustained and more widely shared."

-ENDS-

Notes to Editor

About the DPRI Report

The Q4 2025 DPRI report - conducted by AOP and Deloitte - is based on a survey of 13 UK digital publishers comprising nine B2C publishers and four B2B publishers. The aim of the report is to provide an overview of revenue levels across multiple channels and platforms - as well as insight into publisher sentiment - and to benchmark these findings against previous quarters.

While the DPRI revenue index records a look-back of data over Q4 2025; the publisher sentiment index considers Board member observations given in Q1 2026 to provide a timelier understanding of current feelings. This is a reporting change implemented in 2019.

The information contained in this press release is correct at the time of going to press.

About Association of Online Publishers

Association of Online Publishers (AOP) is an industry body representing digital publishing companies that create original, branded, quality content. AOP champions the interests of media owners from diverse backgrounds including newspaper and magazine publishing, TV and radio broadcasting, and pure online media. For more information, please visit

https://www.ukaop.org.

About Deloitte

In this press release, references to "Deloitte" are references to one or more of Deloitte Touche Tohmatsu Limited ("DTTL"), a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity.

Please see deloitte.com/about for a detailed description of the legal structure of DTTL and its member firms.

Deloitte LLP is a subsidiary of Deloitte NSE LLP, which is a member firm of DTTL, and is among the UK's leading professional services firms.

For more information, please visit https://www.deloitte.co.uk.