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Streamer Revenue Soars Once Again In UK As Amazon’s Prime Video Tops $1.3B For First Time – Ofcom Report
Ofcom Media Nations: Streamer & Amazon Prime Video revenue rose in 2023 as ITV, Channel 4 and Channel 5 fell, while viewing to BBC dipped.
Streamer revenue soared again in the UK last year, with Prime Video generating more than £1B ($1.28B) for the first time, according to Ofcom ‘s Media Nation’s Report, but commercial nets saw turnover tumble to a four-year low. In a year impacted by the economic slowdown and U.S. labor strikes, Ofcom put the rocketing revenue down to “a maturing SVoD market bringing profitability into sharp focus for all the key players,” as it pointed out that subs numbers had virtually plateaued, with 68% of households subscribing to any streamer, and 58% to Netflix. Ofcom cited “the challenging macro-economic environment significantly colouring the performance of the commercial PSBs as well as many digital multi-channels, which rely primarily on income from advertising.” Revenue at Britain’s production houses was also down 10% to £3.4B in what was a difficult year for indies.
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