Connect with us

Hi, what are you looking for?

Investing

Lockdown drives record numbers of viewers to TV streaming services

Netflix

Britons spent 40% of their waking hours watching TV during the height of the coronavirus pandemic, fuelling the biggest year for new subscribers to streaming services.

The number of subscribers to the three most popular services in the UK – Netflix, Amazon and Disney+, which demonstrated perfect timing by launching in the UK on the first day of the spring lockdown – will hit 32.4 million by the end of this year. The number of subscribers to streaming services is now double the number signed up to traditional pay-TV providers such as Sky, BT and Virgin Media.

The number of streaming subscribers has increased by more than 8 million this year. That is nearly double the number of the next best year, with more than three million people signing up to a service for the first time.

“TV has been a pandemic winner and the growth in subscribers shows how important streaming services have now become in the household entertainment mix,” said Richard Broughton, media analyst at Ampere. “Their low monthly cost means that even as many households impacted economically looked to tighten budgets, streaming services flourished.”

The total number of UK subscribers surged 34% year on year, and the number of users has doubled in just three years.

In just the nine months since its launch, 3.5 million people have signed up to Disney+. The service, whose popularity has been driven by the Star Wars spin-off The Mandalorian, has now passed Sky’s Now TV to become the third most popular streaming service in the UK.

Netflix, with 12.8 million subscribers, remains the market leader. Its lockdown crowd-pullers have ranged from Tiger King to The Crown, The Queen’s Gambit and The Last Dance.

However, Amazon, which has added Premier League football to its array of content, has closed the gap on Netflix this year and Prime Video now has an estimated 11.4 million users.

“Arriving as lockdown hit made for the perfect launch conditions for Disney,” says Broughton. “It was perfectly timed to occupy kids off school while parents were working from home, and of course The Mandalorian has proved a global success story.”

Ampere’s figures estimated that the UK’s main pay-TV services – Sky, BT, Virgin Media and TalkTalk – have together lost about 400,000 customers this year.

The researchers estimate that there are now 15.8 million UK pay-TV households, or less than half the number now signed up to subscription streaming services.

The growth of streaming services has been extremely rapid. At the start of 2018, there were more pay-TV subscribers than streaming customers, but Ampere now estimates that about 60% of streaming fans have two or more subscriptions. One in every 10 streaming customers pay for access to four separate services.

However, pay-TV viewers seem to regard streaming services as an additional service rather than an alternative. Sky, BT, Virgin Media and TalkTalk now all offer the rival streaming services to customers via their set-top boxes.

Viewers are simply buying access to more TV at a time when most people have had more time at home, and there are few signs that hard-pressed households have cut back on pay-TV to save money.

“The rate of decline in pay-TV subscribers has not accelerated any faster this year than previously,” said Broughton. “We have not really seen customers cutting pay-TV packages to cut costs during the pandemic, or ditching them to only use streaming services. Pay-TV remains remarkably stable in the UK.”

Read more:
Lockdown drives record numbers of viewers to TV streaming services

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

THE BANGKO SENTRAL ng Pilipinas (BSP) sees the country posting a wider balance of payments (BoP) deficit this year as the global outlook remains...

Investing

HMRC’s new penalty regime for late filing and late payments of VAT will be fairer but more complex with interest being charged on all...

Economy

Economic managers said they “strongly support” the creation of the Maharlika Wealth Fund (MWF), after lawmakers agreed to remove a provision in the bill...

Investing

If you’ve been waiting ages for an online order to arrive, you’re not alone. Companies including ASOS, H&M and JD Sports have been getting...

Investing

Ulster University economists expect the Northern Ireland economy to shrink next year, followed by a weak recovery in 2024. The Ulster University Economic Policy...

Investing

The number of people working in programming and computer consultancy has risen by more than 250,000 workers over the past decade, according to Census...

You May Also Like

Investing

The minute that any question pops into your head, you can simply ask Google. No longer do we have to pour over books and...

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Investing

Browsing history makes referring to sites and pages you’ve visited in the past seamless. It’ll help you recall what page you checked out on...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.