“I think it would be great to see a British Netflix”

New Ofcom data shows video streaming services now have more subscribers than traditional pay TV in the UK.

Media regulator Ofcom has said that British TV will need to change the way it operates if it wants to compete with video streaming services such as Netflix.

New data from Ofcom has shown that services like Netflix and Amazon Prime now have more subscribers than traditional pay TV services in the UK.

According to BBC News, nearly 40% of UK households now subscribe to Netflix, Amazon Prime or Now TV. The 15.4 million subscriptions have now passed the 15.1 million who pay for Sky, BT, Virgin and other satellite/cable providers.

Ofcom has also revealed that spending on TV by the BBC, ITV, Channel 4 and Channel 5 has dropped by nearly £1 billion over the last 20 years. The decrease from £3.4 billion to £2.5 billion represents a 28% drop in spending.

Viewing among five to 15s was down 15% in 2017 and for 16-24s it was down 12%. However, 16-34s now watch around an hour a day of material on YouTube on phones, tablets or computers.

Ofcom’s chief executive, Sharon White, said that it “would be great to see a British Netflix”.

“We’d love to see broadcasters such as the BBC work collaboratively with ITV, Channel 4 and Channel 5 so that they have got that scale to compete globally, making shows together, co-producing great shows that all of us can watch,” Sharon commented on BBC News.

Talks between BBC, ITV and Channel 4 have already taken place, looking at the prospect of creating a joint streaming service to compete with Netflix and Amazon, said the BBC.

Want to read more news like this? Simply sign up to our daily digest by clicking here. You can also follow @LicensingSource on Twitter.

MORE NEWS
LFRD24500x500
 
Licensing for Retail Day survey highlights retailers most excited to work with toy/preschool/kidult brands in 2024; Customer acquisition and loyalty, plus diversification viewed as biggest benefits....
MMixlings500x500
 
Under the three-year contract, Sambro will support the expansion of the Magic Mixies universe with the creation of a compact range of new novelty products....
MarvelWeetabix500x500
 
Weetabix has teamed with Marvel on a new family-focused collaboration with the aim of promoting healthier snacking for kids....
Sandersonlogo500x500
 
The luxury interior design and furnishings group is to move its head office later this year to West London to a listed building that opened in 1902 as a wallpaper factory for Arthur Sanderson & Sons, the forerunner of the Sanderson brand....
EdStaffordOlpro500x500
 
In a new venture into extreme outdoor exploration, Brandgenuity has brokered a deal between adventurer Ed Stafford and B-Corp certified camping brand, OLPRO....
CardzoneClintons500x500
 
The greeting cards industry has reacted positively to the acquisition of Clintons by Pillarbox Designs, the parent company of Cardzone....
Get the latest news sent to your inbox
Subscribe to our daily newsletter

The list doesn't exist! Make sure you have imported the list on the 'Manage List Forms' page.