The streamers’ UK revenues skyrocketed by more than 20% last year despite sub numbers remaining at a virtual standstill, according to Ofcom’s latest Media Nations report.
The combined turnover of the likes of Netflix, Amazon Prime Video and Disney+ hit nearly £3.3B in the nation, rising by 21.5% on the prior year and having now doubled over the past three years.
The regulator’s report put this down to a combination of price rises – notably Netflix in March 2022 and Prime Video in September 2022 – new revenue streams such as advertising and the plethora of new players launching including Paramount+ and Apple TV+, while overall subscriber numbers did increase slightly.
All individual platforms saw revenue increases, with Disney+ rising by an impressive 40% to £383M and Netflix by the lower figure of 16% to £1.61B.
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