Netflix is now the second largest TV group in Europe by revenue according to research by Ampere Analysis.
The company classes revenue as broadcast advertising income, subscription video-on-demand revenue, public funding and subscription pay television revenue.
Last year, Netflix became the second largest entity in Europe in terms of revenues, behind only Comcast (which owns Sky’s operations in Europe), and overtaking the German public broadcaster ARD, said Ampere. In 2020, the streamer accounted for more than 6 per cent of all European TV revenues.
“While Netflix has enjoyed success across the continent, local broadcasters are facing increased pressures. The coronavirus pandemic has thrown the TV advertising market into decline, compounding and accelerating the woes of traditional and established brands. And while Netflix’s pockets are getting deeper, local entities are struggling to compete,” said Tony Maroulis, principal analyst at Ampere Analysis.
“Over the next few years, Netflix alone is set to be better funded than many leading commercial broadcasters, and its scale means that it is able to produce quantities of high-quality content that most of its local competitors cannot match. This global vs. local imbalance will further accelerate the online viewing shift, which is now beginning to shift to older demographics as well as young.”