Digital Publisher Revenues continued to climb in Q2 2025, data from AOP and Deloitte reveals

Published: 20 Oct 2025

Digital Publishers’ Revenue Index shows a year-on-year increase of 3.43%, with revenues from digital audio rising sharply

London, UK, 20^th October 2025: The latest Digital Publishers’ Revenue Index (DPRI) from the Association of Online Publishers (AOP) and Deloitte reveals more solid revenue growth, with total Q2 2025 revenues of £165.40 million, up by 3.43% year-on-year (YoY). However, the data suggests that revenue growth isn't evenly distributed, with only slightly more than half of respondents (54%) reporting growth in their revenues during Q2 2025.

After the record 9.27% YoY revenue growth seen in Q1 2025, Q2’s increase was more modest, but there was a continuation of the positive trend in subscription revenues, which grew 11.27% YoY. While subscription revenues surpassed display advertising for the first time in Q1 2025, the two categories were almost even in Q2, with display generating £57.82m for publishers compared to the £56.57m raised by subscriptions. Overall, display advertising revenue was down 7.37% YoY, a continuation of its waning trajectory.

The most noticeable revenue growth came in digital audio, which grew 72.90% YoY, while video grew 11.63% and sponsorship revenue was up 15.11%. Sponsorship is still the third-largest revenue driver for publishers, generating 14.09% of total revenues, while video now accounts for 8.93% and digital audio 4.53%. At the other end of the scale, recruitment classified revenue saw a steep decline of 90.50% compared to Q2 2024, while other classifieds climbed slightly by 4.84% YoY.

While 54% of respondents reported positive revenue growth in Q2 2025, nearly a third (31%) said this growth was more than 25%. On the other hand, while 46% reported negative revenue growth in the same period, only 8% suffered negative growth of more than 25%. This compares to 69% of participants reporting a revenue increase in Q1 2025; the highest share of publishers reporting growth since the pandemic.

All survey respondents agreed that new products would be a top priority for their business over the next 12 months; however, all also said that cost reduction would be a high priority strategy over the same period. Every respondent said that expanding by acquisition would also be another strategic priority, compared to only 25% who gave that answer in Q1 2025.

Andy Cowen, lead partner for telecoms, media and entertainment at Deloitte, said: "While Q1’s data saw subscription revenues established as the largest revenue driver for premium publishers, display revenues narrowly edged back ahead in Q2. The ongoing strong performance of subscriptions shows that publishers still have room to grow their paying audience base. The significant growth in digital audio revenues is also notable, going from an asterisk in revenue reports to a reliable driver of revenue diversification over the past year.”

Richard Reeves, Managing Director at AOP, commented: “Premium publishers sit on the fault lines of the tectonic disruptions to media consumption and monetisation on the open web that we see today. It's a testament to their resilience and adaptability that we continue to report revenue growth regardless. With far more categories growing than shrinking, we also see proof that a portfolio approach to revenue streams pays off in protecting the bottom line from the wider market’s ups and downs.”

-ENDS-

Notes to Editor

UK Digital Publisher Revenue (based on revenues for AOP publisher members) AOP & Deloitte DPRI report
	MAT to Jun 2025 vs. MAT to Jun 2024 (% change)	Q2 2025 vs. Q2 2024 (% change)
Total DPRI revenue	3.12	3.43
Display advertising	-5.52	-7.37
Subscriptions	10.33	11.27
Online Video	7.12	11.63
Digital Audio	32.45	72.90
Sponsorship	6.18	15.11
Recruitment	-41.99	-90.50
Other Classified	-37.86	4.84
Miscellaneous	25.55	18.44
Off Platform	16.17	16.49

About the DPRI Report

The Q2 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 Q2 2025; the publisher sentiment index considers Board member observations given in Q3 2025 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

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 www.deloitte.co.uk.