According to research reports, the British TV production sector has witnessed a boost in content consumption thanks to number of programs commissioned by online video streaming platform such as Amazon Prime and Netflix. Netflix and Amazon Prime have altogether spent a total of £150m last year in the UK.
The rapid rise of streaming devices, and demand for original content have convinced big online video platforms to increase their investment for the UK TV production sector. Currently, the sector is worth of £2.7bn a year in annual revenue.
John McVay, Chief Executive of TV Producers’ Association Pact quoted, “It is inevitable those big platforms want to work with British producers, because we have a reputation for delivering creativity and quality. We want to encourage all those platforms to spend more, and they almost certainly will, as they still account for a small proportion of total commissioning spend.”