Gray Television (GTN) revenue breakdown
By segment, Broadcasting, Segment is the largest at 97% of fiscal 2025 revenue, growing 7% a year over 6 years.
By product, Core Advertising is the largest at 47% of fiscal 2025 revenue; Retransmission Consent grew fastest, 24% a year over 9 years.
Revenue by segment
Fiscal years, as Gray Television reports them in its 10-K filings; fiscal 2025 total $3.1B.
| Segments | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|
| Broadcasting, Segment | $2.0B | $2.3B | $2.3B | $3.6B | $3.2B | $3.5B | $3.0B | 97% |
| Production Companies, Segment | $87M | $61M | $73M | $93M | $86M | $105M | $107M | 3% |
Revenue by product
Fiscal years, as Gray Television reports them in its 10-K filings; fiscal 2025 total $3.1B.
| Products | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Core Advertising | — | — | — | — | $969M | $1.2B | $1.5B | $1.5B | $1.5B | $1.5B | 47% |
| Retransmission Consent | $201M | $277M | $355M | $796M | $867M | $1.0B | $1.5B | $1.5B | $1.5B | $1.4B | 46% |
| Production Companies | — | — | — | $87M | $61M | $73M | $93M | $86M | $105M | $107M | 3% |
| Service, Other | $20M | $20M | $17M | $44M | $54M | $57M | $76M | $70M | $70M | $65M | 2% |
| Political Advertising | $90M | $16M | $155M | $68M | $430M | $44M | $515M | $79M | $497M | $42M | 1% |
| Local Advertising | $403M | $451M | $443M | $898M | — | — | — | — | — | — | — |
| National Advertising | $98M | $119M | $114M | $229M | — | — | — | — | — | — | — |
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Where does Gray Television make its money?
In fiscal 2025, by segment: Broadcasting, Segment $3.0B, Production Companies, Segment $107M.
From Gray Television's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.