Streaming overtakes satellite and cable TV for the first time
 

At least in the UK

The number of British people subscribing to TV services like Netflix, Amazon and Sky’s NOW TV, has overtaken traditional satellite and cable TV for the first time, media regulator Ofcom has announced.

The shift in the way TV content is consumed caused the amount of revenue generated from pay-TV to fall for the first time after years of sustained growth, the research found.

Netflix, Amazon and NOW TV attracted 15.4 million subscribers in the first quarter, ahead of 15.1 million pay-TV contracts, Ofcom said citing BARB Establishment Survey data.
Traditional pay-TV, such as Virgin Media’s cable and Sky’s satellite services, still generated significantly more revenue than video-on-demand subscriptions.

Pay-TV subscription revenue of 6.4 billion pounds in 2017 was down 2.7 percent year-on-year, but still well ahead of the £895 million generated by video streaming services, according to Ofcom’s calculations.

Sky, Britain’s biggest pay-TV company that is at the center of a bidding battle between US groups 21st Century Fox and Comcast, launched its NOW TV service in 2012, aimed at customers who did not want to be tied to a traditional contract.

Ofcom Chief Executive Sharon White said the rapid change in what we watch and how we watch had profound implications for the UK television industry.

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