Home Business News Netflix is chill: Streaming services overtake pay-TV in Britain

Netflix is chill: Streaming services overtake pay-TV in Britain

by Purvai Dua
18th Jul 18 8:33 am

The number of UK subscribers for TV services like Netflix, Amazon and NOW TV, has overtaken traditional satellite and cable TV for the first time, media regulator Ofcom announced.

Netflix, Amazon and NOW TV attracted 15.4m subscribers in the first quarter, ahead of 15.1m pay-TV contracts, Ofcom added, citing BARB Establishment Survey data.

But traditional pay-TV, such as Virgin Media’s cable and Sky’s satellite services, still generated significantly more revenue than video-on-demand subscriptions.

Talking about this shift, Ofcom Chief Executive Sharon White said: “The research finds that what we watch and how we watch it are changing rapidly, which has profound implications for UK television. We have seen a decline in revenues for pay-TV a fall in spending on new programmes by our public service broadcasters and the growth of global video streaming giants. These challenges cannot be overestimated.”

The development marks a major competitive shift in the TV industry as the rise of the global internet firms and changing viewing habits, especially among younger viewers.

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