Amazon and Netflix are trouncing broadcasters in the U.K. streaming market

Netflix series The Crown
Amazon Prime Video and Netflix, home of originals like "The Crown," are snatching the lion's share of streaming video revenues in the U.K. (Netflix)

Amazon Prime Video and Netflix’s investments toward growing international subscriber bases are paying off, at least in the U.K., where the two services are trouncing their broadcaster competition.

According to The Guardian, Amazon Prime Video and Netflix took in a combined £1.1 billion (nearly $1.39 billion) in 2018. Netflix accounted for £693 million ($874 million) in revenues from 10 million U.K. subscribers, and Amazon accounted for £400 million ($504 million) from an estimated 7.7 million Prime Video subscribers.

As the report pointed out, four streaming services from U.K. broadcasters ITV, Channel 4, Channel 5 and Sky – made about £530 million ($668 million) 2018.

FREE DAILY NEWSLETTER

Like this story? Subscribe to FierceVideo!

The Video industry is an ever-changing world where big ideas come along daily. Cable, Media and Entertainment, Telco, and Tech companies rely on FierceVideo for the latest news, trends, and analysis on video creation and distribution, OTT delivery technologies, content licensing, and advertising strategies. Sign up today to get news and updates delivered to your inbox and read on the go.

But, Amazon and Netflix’s big revenues in the U.K. don’t mean that the services have the most subscribers. The BBC’s free iPlayer service is tops in the country with an estimated 13.4 million homes.

RELATED: Amazon Prime launches on Virgin Media set-tops in U.K. ahead of Premier League streams

For Netflix, international distribution has become the biggest part of its business. The company ended its most recent quarter by adding another 7.86 million subscribers, and bringing its total subscriber base outside the U.S. to 88.63 million paid memberships. The company added nearly 23 million international subscribers in 2018. The company also expanded its international streaming revenues to more than $2.3 billion.

Those revenue figures are likely poised to grow even more in 2019 now that Netflix is rolling out price increases in the U.K. The Guardian reported that Netflix is hiking prices in the country by 20%, upping the cost of a standard plan to £8.99 per month and premium to £11.99 per month. The company is maintaining its £5.99 price for the basic plan.

Suggested Articles

Marketing for 8K television may need to add a warning: math involved.

AT&T is filling in some details about the WarnerMedia Innovation Lab, which is opening in 2020, and that it announced earlier this year.

Comcast is launching new controls for its X1 television service that will allow people with certain disabilities to operate their cable TV systems using their…