Netflix rises as streaming profits from foreclosure boom – Forbes Advisor UK


British households stranded last year spent a third of their waking hours watching TV or streaming videos, according to a new study.

A study by telecommunications regulator Ofcom found that people forced to stay at home by the Covid-19 pandemic spent more than five and a half hours watching shows or online content every day.

This included streaming twice as many videos from subscription services like Netflix as in 2019. The streaming boom has seen Netflix subscriptions in the UK jump by over 50% to over 30%. million, against 21 million the previous year.

With more than half of UK households now subscribing to the streaming giant, Netflix’s customer base in Britain for the first time exceeds that of pay-TV provider totals combined.

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Of the 30 most streamed titles in 2020, 29 were found on Netflix, including Bridgerton, The Dig, Behind His Eyes and Destiny: The Wynx Saga. During the winter lockdown, Netflix subscribers streamed twice as many hours of comedy shows and movies as in 2019.

The gain of streaming services was the loss of broadcast television in 2020, with traditional television continuing to lose market share in favor of online video.

While the time over 45s spent watching traditional TV increased slightly from 2019 figures, those aged 16 to 24 spent less time watching, resulting in a net loss for broadcasters.

Ofcom’s Yih-Choung Teh said: “The pandemic has undoubtedly boosted viewing of streaming services, with three out of five UK households now signed up. But with subscriber growth slowing in 2021 and the easing of lockdown restrictions, the challenge for Netflix, Amazon and Disney will be ensuring a healthy content pipeline and keeping customers enrolled. “

The report comes as Disney + and Netflix streamers launch price hikes in the UK.

Netflix’s standard plan will drop from £ 8.99 to £ 9.99 while its premium subscription will drop from £ 11.99 to £ 13.99. The increases already apply to new customers and are gradually being extended to existing customers.

Meanwhile, Disney + prices will increase for new and existing customers starting August 23. For subscribers who pay monthly, prices will drop from £ 5.99 to £ 7.99. For those paying annually, prices will drop from £ 59.99 to £ 79.90.

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