UK video streaming market shows signs of recovery in last quarter of 2022

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LONDON : The UK video streaming market showed a tentative recovery in the final quarter of 2022, with subscriber numbers edging higher after a sharp decline earlier in the year when cash-strapped households sought savings, industry data showed on Monday. Market researcher Kantar said that between October

LONDON : The UK video streaming market showed a tentative recovery in the final quarter of 2022, with subscriber numbers edging higher after a sharp decline earlier in the year when cash-strapped households sought savings, industry data showed on Monday.

Market researcher Kantar said that between October and December the number of UK homes that had at least one paid-for video streaming service rose by 55,000 to 16.24 million, representing 56 per cent of households.Kantar said 5 per cent of British households took out a new streaming subscription during the final quarter of the year.

The recovery followed a period of 12 months when one million British households dropped out of the subscription video-on-demand market, as they prioritised spending on essentials, such as food and energy. “Prime Video had a strong final quarter of the year, with an increasing number of households taking out Prime memberships and using the Prime delivery service in the run-up to the Christmas holidays," Dominic Sunnebo, global insight director, Kantar, Worldpanel Division, said.

However, several major British retailers, including Tesco, Sainsbury's and Marks & Spencer, reported better-than-expected Christmas sales, while airlines have reported strong bookings into summer.

 

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