By Jess Jones Channel 4 has reported a challenging year, amid a “tough cyclical TV advertising downturn”, but said this is beginning to stabilise. In 2023, its total revenue dropped by 10.4 per cent year-on-year to £1.02bn, including a 9.7 per cent decline in total advertising revenue. It led to a record loss of £52m, compared to the previous year’s pre-tax surplus of £20m. In a brighter spot for the broadcaster, digital revenues grew by 10 per cent to £280m, now making up 27 per cent of total revenue – a figure expected to hit 30 per cent in 2024, one year ahead of forecast. Hit shows like Ma…