Vice hopes the launch of its British television channel will help boost revenues to £31 million ($38.4 million) this year, according to earnings published at Companies House.
If Vice hits the target, it will be a £5 million ($6.2 million) increase on the turnover of £26 million ($32.2 million) it posted in 2015. This in itself was up 60% on £16.4 million ($20.3 million) in 2014.
The forecast comes despite a shaky start for Viceland after it launched on British television in September.
Media analyst Enders Analysis published a report last month criticising Viceland’s “lacklustre” debut. It claimed that the channel is sometimes failing to attract a single viewer, while its biggest audience in its first two weeks was a peak of just under 14,000 viewers.
Vice has always stressed that Viceland is a long game and judging the channel after just a month on air is premature. It is hoping that a TV marketing blitz will help boost its fortunes.
Vice’s UK earnings show that all of its increase in revenue last year came from its European and international operations. In fact, turnover in Britain alone fell from £10.5 million ($13 million) in 2014 to £7.7 million ($9.5 million) last year.
Other highlights from the earnings:
- Vice UK recorded a pre-tax loss of £145,318 ($180,000) last year, compared with a profit of £1.6 million ($2 million) in 2014. Operating profit before depreciation, amortisation, and stock-based compensation — Vice’s preferred measure of profit — was up 133% to £2.9 million ($3.6 million).
- Vice’s workforce swelled from 114 in 2014 to 169 last year. Staff costs grew from £3.7 million ($4.6 million) to £6.2 million ($7.7 million) at the same time.