K.J. Yossman The streaming sector in the U.K. made profits of £2.7 billion ($3.3 billion) in 2021 – a year-on-year increase of 27%, which has been put down to both more subscribers and price rises.Last year’s growth was almost a match for 2020, which saw a year-on-year revenue increase of 28%.The figures were revealed in broadcasting regulator Ofcom’s annual Media Nations report, which reviews trends in the media sector and looks at how U.K.
audiences are being served.According to the report, TV broadcasters found that between 2020 and 2021 average viewing – across all devices, including live TV and on-demand – was down by 9% while SVoD viewing was down by 6%.2020 and 2021 were when the U.K.
found itself in repeated lockdowns due to the COVID-19 pandemic. As restrictions began to ease, the average amount of time people spent watching content across all TV/video devices began to drop.
With the U.K. almost entirely out of lockdown restrictions, that spells worrying news for both broadcasters and streamers, particularly with record spending on film and high-end TV and a cost of living crisis hitting the country.CancellationsThat can already be seen in SVOD subscriber numbers across the U.K., which have declined from 68% in the first quarter of 2022 to 67% in the second quarter.
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