According to a report conducted by Barb, Netflix and other streaming services are increasing their dominance in the region sidelining conventional TV businesses.
Netflix Inc. has expanded its global footprints in 190 countries this year after it announced a massive global expansion in January which covered most parts of the world. After the United States, the company’s major market is United Kingdom from where it has the dominant market share against local and international TV business. In short, Netflix has become a global TV network in a very short span of time. And this has had significant impact on the viewers of UK.
According to a report, it is believed that the streaming giant is significantly growing in the United Kingdom’s TV industry and has sidelined most of the conventional pay TV cable business as well as other TV networks currently present in the region. The report suggests that there are more than one million homes in UK which do not own a television all thanks to Netflix. The demand of the streaming network along with other streaming rivals such as Hulu and Amazon Prime Video is soaring. Almost 4.7 percent of participants i.e. nearly 1.3 million households do not own a television set at the end of last year as they were paid monthly subscribers of Netflix.
Regardless of the content the streaming service provider offers to its UK subscribers which is three times less than what it offers to US subscriber, the demand is increasing at a faster pace. The survey was conducted by Barb which is the official body that collects television audience figures.
Barb surveyed 53,000 viewers in the UK. It was reported, “The number of households with Netflix grew by 1.4 million between the end of 2014 and the end of 2015, compared with an increase of 500,000 households for Amazon Video and 300,000 households for Now TV. One theory is that non-TV households are online pioneers who are keen on TV but prefer to use computer devices to access it.”
The report showed that 24 percent (a quarter) of households in the United Kingdom were paying for a streaming service monthly whether it is Netflix, Amazon Prime Video, or Sky’s Now TV by the end of last year. This figure was stalled at just 14 percent in the initial months of 2014. Barb’s reported stated that Netflix which has produced a couple of hit and popular shows last year such as House of Cards, Making of a Murderer, and Orange is the New Black is dominating the market irrespective of the continuous growth shown by Amazon Video and Now TV.
Netflix is an on the go TV viewing service which offers a diversified and extensive content library to its viewers with a benefit of binge watching any favorite series. This is one of the main reasons of as to why the demand is soaring.
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