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Netflix and Amazon streaming revenues “double those of UK broadcasters”

Streaming giants made £1.1bn in UK revenues last year

Netflix and Amazon’s UK streaming revenues doubled those of the UK’s main commercial broadcasters’ streaming services in 2018, according to Ofcom.

While the streaming giants made £1.1bn in revenues from UK streaming customers in 2018 (£693m for Netflix and £400m for Amazon), the streaming services of the UK’s biggest broadcasters (ITV Hub, All 4, My5 and Now TV) made £530m.

Compared with Netflix’s 10 million UK subscribers and Amazon’s 7.7 million, Now TV has an estimated 1.5 million paying customers, ITV Hub is used in 8.8 million households, All4 in 6.8 million and My5 in 4 million.

ITV and the BBC are due to launch Britbox this year and are aiming to involve Channel 4 and Channel 5 in the venture.

Meanwhile Netflix became the biggest pay-TV service in the UK last year, surpassing Sky’s three-decade domination of the market. The UK is also projected to lose around 600,000 pay-TV subscribers over the next five years.