As part of the forthcoming Media Bill, the UK government is reportedly planning on giving Ofcom the power to regulate the streaming services.
According to The Telegraph, the government wants to give the UK regulator the power to fine the streamers up to £250,000 if they are found in breach of a new code of conduct.
The report suggests the new regulations could be announced in 2023, and would be similar to the rules for traditional linear broadcasters.
It adds that the bill is likely to include a clause requiring the global streamers to promote “distinctly British content”.
Earlier this year, Ofcom chief executive Melanie Dawes said there was “real value” in the watchdog being given the power to regulate the global streaming services in the UK.
She told Channel 4 News: “I think that is a concern because it means that for viewers, it’s really confusing that they’ve got different standards applied, for example, to Channel 4 News than they have to YouTube and other services, including Netflix, that come streamed onto our TVs.”