Connect with us

Hi, what are you looking for?

Editor’s Pick

Netflix doubles down on UK productions despite slowdown

<?xml encoding=”utf-8″ ??>

Netflix has spent $6bn (£4.8bn) making TV shows and films in the UK since 2020, $2bn more than originally planned, as the streaming giant doubled down on must-watch content amid a global slowdown in new subscribers.

In a rare public announcement on content-spend levels, Netflix has said that it had spent on average almost $1.5bn annually from 2020 through to 2023.

That is a $500m-a-year increase since the streaming company, which makes more than 60 TV series and films annually in the UK, such as The Crown and Heartstopper, last revealed its UK annual spend figure in 2020, when it estimated that it would invest $1bn.

The increasing investment in the UK, the company’s second biggest market for TV and film production after the US, comes as Netflix fights a subscriber slowdown with initiatives including a lower-cost ad-supported tier and a crackdown on free use through password sharing.

Netflix is the biggest spender of the streaming giants – Amazon has said it spent more than £1bn in the UK on TV, movie and live sport between 2018 and 2022 – has long-term production deals at Shepperton and Longcross studios, and shoots in locations across Britain.

About a third of all the productions that Netflix makes in Europe, for its 233 million-strong global subscriber base, are made in the UK.

The boost in Netflix’s content budget puts it on par with ITV, which spent £1.2bn last year but intends to spend more to support new streaming service ITVX, and is approaching double Channel 4’s £671m budget for 2022.

“Our productions are some of buzziest, most watched and zeitgeist-defining in the world,” said Anne Mensah, Netflix’s vice-president of content in the UK. “Between 2020 and 2023, we will in fact have invested almost $6bn creating Netflix series and films here, an increase of nearly 50% on what we originally anticipated.”

Netflix, which makes more than £1.4bn in annual revenues from UK subscribers, is now effectively the joint third biggest spender on content in Britain after Sky and the BBC.

On Wednesday, Netflix announced three new UK commissions including Black Doves, a series starring Keira Knightley; the drama Department Q, an adaptation of novels by Danish author Jussi Adler-Olsen; and the documentary Bank of Dave: The Sequel.

“It is hugely welcome to see Netflix significantly increase its investment in the UK, demonstrating the sheer strength of our TV and film industry as the largest in Europe,” said Rishi Sunak. “Netflix has been a key part of this success.”

A record £6.27bn was spent making films and high-end TV shows (HETV) – those costing at least £1m an episode – in the UK last year, according to industry body the British Film Institute. About £4.3bn of that spend was on HETV series, three times the amount spent in 2018.

The streaming wars have fuelled a content arms race in recent years as traditional TV broadcasters and companies such as Netflix, Amazon, Apple and Disney battle for viewers and subscribers.

However, the global streaming market has seen a significant slowdown. Netflix and Disney+ recorded their first ever subscriber losses in the last year, which has in part been fuelled by consumers looking to cut back on outgoings amid the cost of living crisis.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



Standing firm against hunger, Globe launches the Longest Hapag— a five-month nationwide food festival series. The campaign kicks off in time for the commemoration...

Editor’s Pick

<?xml encoding=”utf-8″ ??> Retail sales volumes have fallen this month compared with the same period last year, while staffing levels have dropped sharply, a...

Editor’s Pick

<?xml encoding=”utf-8″ ??> Retail sales volumes recovered slightly by 0.5 per cent in April as the sector was lifted by the Easter holidays, however...

Editor’s Pick

<?xml encoding=”utf-8″ ??> The number of small businesses planning to increase prices to their customers is set to rise dramatically this quarter, further fuelling inflationary pressures. A new...

Editor’s Pick

<?xml encoding=”utf-8″ ??> VivaCity, the transport technology scaleup transforming cities into smarter and more efficient places to live and work, has partnered with Transport...

Editor’s Pick

<?xml encoding=”utf-8″ ??> The Google-owned video platform has confirmed that it’s shutting down YouTube Stories in June. Stories first launched in 2018, and allowed...

You May Also Like


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.