The most stressful show on television is back, and it's darker than ever. Industry season four premiered on BBC iPlayer on Monday, 12th January 2026, with the first episode airing on BBC One at 10.40pm that same night. The hit banking drama returns for another eight episodes of high-stakes finance, twisted relationships, and moral decay, leaving viewers simultaneously depressed and utterly hooked.
A New Era of Power and Politics
Following the merger of Pierpoint and the exit of key characters, the show has shifted its focus. The frantic energy of the trading floor has given way to the more sinister politics of business, marriage, and government. Harper Stern (Myha'la) now runs a specialised short-selling operation, while Yasmin Kara-Hanani (Marisa Abela) navigates her new life as Lady Muck, grappling with her husband, tech founder Sir Henry Muck, played by Kit Harington.
The stakes are immeasurably higher. Harper's early misbooking of a six-figure loss seems trivial compared to the globetrotting cat-and-mouse game she's drawn into with a flashy fintech darling. Alongside Eric (Ken Leung) and new team members, her group doubles as investigators on a potentially ruinous mission.
What's Missing in the Glossy World?
This season's unrelenting darkness is palpable. While new characters like Sweetpea (Miriam Petche) and Kwabena (Toheeb Jimoh) bring some energy, the show misses the warmth of departed grads like Rob (Harry Lawtey). His absence leaves a hole not just in the central will-they-won't-they tension, but also in the show's representation of state-educated bankers with regional accents.
The creators, Mickey Down and Konrad Kay, continue to write what they find interesting, tapping directly into the contemporary news cycle. Season four tackles an online safety bill, the mechanics of platforms like OnlyFans, and even introduces a figure with parallels to Ghislaine Maxwell.
The Complex Heart of the Series
Amid the jargon and brutality, the show's sophisticated exploration of female friendship remains its unlikely strength. Harper and Yasmin's connection is messier and deeper than ever, a toxic yet intense bond that forms the series' through-line. A drug-fuelled club scene in the latter episodes perfectly captures their chaotic, co-dependent relationship, offering a rare moment of visceral release in an otherwise harrowing narrative.
As the characters climb higher, their lives become more horrifying. Yasmin's descent into a dark reality is chilling, and her husband's addiction leads to one of the show's most brutal scenes. The circles they move in have strayed far from any moral standpoint.
Industry season four is available to stream now on BBC iPlayer, with new episodes airing on BBC One every Monday at 10.40pm. The cast also includes Max Minghella, Kiernan Shipka, and Charlie Heaton as financial journalist Jim Dycker. Four seasons in, the drama still manages to gasp-inducing twists, proving that you don't need to understand investment banking to be completely immersed in its emotionally literate, depressingly brilliant world.
