Channel 4 has struck a new deal to keep The Great British Bake Off, the broadcaster’s biggest hit, for three more years.

The show, which brings in audiences of up to 9 million, is crucial to Channel 4’s offering to advertisers and forms the backbone of its commercial strategy.

While the value of the new deal with the Bake Off maker, Love Productions, has not been disclosed, Channel 4 paid £75m for its first three-year deal when it poached the show from the BBC in 2016.

“We are thrilled that Channel 4 will continue to serve up Bake Off’s unique combination of warmth, humour and soggy bottoms for years to come,” said Ian Katz, Channel 4’s chief content officer. “Bake Off is all about optimism, celebrating eccentricity and bringing the nation together, precisely what a publicly owned Channel 4 is here to do.”

The UK government is running a consultation on the possible privatisation of Channel 4, which is state-owned but funded primarily through advertising revenue.

The deal to keep Bake Off also encompasses the growing number of spin-offs, which include Junior Bake Off and Bake Off: An Extra Slice, as well as The Great Pottery Throw Down, which is made by the same production company.

“We are delighted to have extended Bake Off’s stay on Channel 4 for another three years,” said Richard McKerrow, the chief executive of Love Productions, which is owned by Sky Studios. “Love Productions’ long-term commitment with Channel 4 illustrates a deep, warm, mutual respect and partnership which enables us to bring Bake Off to the widest audience possible.”

While Love Productions has steadfastly kept Bake Off on free-to-air television in the UK despite rumours of interest from Netflix in the past, it has a deal with the Silicon Valley company to air the show in the US.