Naman Ramachandran Streaming services and cinema are set to play pivotal roles in the U.K.‘s entertainment and media (E&M) market, which is on track to become Europe’s largest by 2025, overtaking Germany, according to PwC‘s latest Global Entertainment & Media Outlook 2024-2028.
The report projects U.K. E&M revenue to surpass £100 billion ($128 billion) this year and reach £121 billion ($155 billion) by 2028, growing at a compound annual rate of 4%.
The U.K.’s streaming market, the largest in Western Europe and third globally, is navigating a maturing landscape. While subscriptions are expected to rise from £6.5 billion in 2024 to £8.3 billion in 2028, growth rates are slowing.
In response, streaming platforms are exploring new revenue streams. Ben Bird, entertainment and media sector leader at PwC U.K., noted: “Operators are leveraging their content rights and original productions to boost take up, leaving consumers needing to subscribe to multiple services or rotate platforms to access the content they desire.” He added that ad-supported plans are driving growth, “in some cases offering the chance to subscribe for slightly less.” Bird emphasized the streaming market’s strong performance, noting its rapid expansion despite intense competition and market maturity.
Read more on variety.com