According to a survey report, Video streaming services in the UK region are expected to be £80bn worth by 2023. Presently in 2019, the market is projected at £70 bn with a CAGR of 8%.
As the video streaming grows, the UK’s media & entertainment sector will also witness a surge of 3.5% per year in the revenue.
Mainly, the growing demand for on-demand videos and UK’s nascent 5G network is predicted to fuel up this growth. The reports also pointed out the high usage of internet data in the UK over the next four years.