Affiliate Monitor: December 2025
This edition of the Monitor surveys the collateral impact of the forthcoming tax hikes on UK-centric affiliates, while the Q3 earnings roundups reinforce the message that diversification is no longer optional for the sector’s listed players.
Affiliates have absorbed the downstream effects of UK regulatory changes in recent years but the huge tax hikes landing from April 2026 will have major material and structural impacts on those with skin in the world’s largest fully regulated market.
The lead feature of this edition of the Monitor sees author Scott Longley explore the potential fallout with TAG Media’s Tom Galanis, FTD Digital’s Sue Dawson and Digital Fuel’s Toby Oddy.
As if this wasn’t enough coming down the track for UK affiliates, new restrictions on wagering requirements and cross-sell promotions also come into force on 19 January when the industry is gathered in Barcelona for iGBA and ICE.
All affiliates are of course adjusting to Google sending fewer clicks their way while simultaneously failing to police the spam clogging up the search results. While AI is sucking in informational queries to the extent that appearing in position 5 is the equivalent to being down on page 5 little more than 12 months ago.
This is all further fuelling the race to develop brands that are found everywhere, not just on Google, and accelerating the diversification and retrenchment that were the dominant themes of the round of Q3 earnings calls covered on p10-36.
Could these pressures on top of the UK market becoming untenable for many affiliates reignite the consolidation play we are already seeing unfold on the operator side, as TAG Media’s Galanis suggests on p8?
A clearer picture on this and the broader responses will have emerged by the time we all meet in Barcelona.
As always, any feedback you have on this and other iGB Affiliate content please contact stephen.carter@clariongaming.com