U.K. Streaming Revenues Soar 21% to $4.1 Billion in Flat Market, Media Regulator Study Reveals

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Revenues in the U.K. streaming sector soared 21.5% year-on-year to £3.3 billion ($4.1 billion) from 2022, a study from media regulator Ofcom has revealed. The growth is driven by a combination of p…

and Sky’s Now, taking a 93% market share. Of these, Netflix accounted for £1.61 billion, Prime Video £778 million, Disney+ £383 million and Now £253 million.

The study notes that there was a slowing in the take-up of SVOD services like Netflix and Disney+, and there are indications that viewing declined in 2022, along with most other forms of viewing as total viewing fell. Some 66% of U.K. households reported using an SVOD service in Q1 2023, down from a peak of 68% in Q1 2022.

Over in the broadcast sector, the study finds that the proportion of viewers who tune in to traditional broadcast TV each week has seen the sharpest ever annual fall – from 83% in 2021 to 79% in 2022. BBC One remains the only channel to reach more than half of the viewing population every week. The average time that viewers spend watching broadcast TV each day was down from two hours and 59 minutes in 2021, to two hours and 38 minutes in 2022 .

Only 48 programs averaged more than four million TV viewers on streaming platforms in 2022, with Netflix accounting for the vast majority.

 

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