Streaming overtakes pay television

The number of UK subscriptions to television streaming services like Netflix has overtaken those to traditional pay television for the first time, marking a major shift in the UK’S viewing habits.

The amount of revenue generated from pay TV has also fallen for the first time, after a period of sustained growth, according to the Ofcom study, while people are spending less time watching television. The average daily broadcast viewing on the television set fell by nine minutes in 2017 – and is down 38 minutes since 2012.

Sharon White, Ofcom’s chief executive, said: “Today’s research finds that what we watch and how we watch it are changing rapidly, which has profound implications for UK television.”

Across all devices, the UK’S total television and audiovisual daily viewing in 2017 reached five hours and one minute, with the majority to broadcast television. Younger viewers watched more nonbroadcast content.

Dani Warner, TV expert at uswitch.com, said: “This shift is being driven by the take-up of superfast broadband and the increasing affordability of the likes of connected devices, such as smart TVS and streaming sticks. Adding to this is the feeling that consumers don’t want to be chained to the broadcasting schedule. While the World Cup has certainly brought live TV to the forefront, viewers are increasingly choosing on-demand TV.” Equity Release may involve a home reversion plan or a lifetime mortgage, which is secured against your property. To understand the features and risks, ask for your personalised illustration. Any money released, plus accrued interest would be repaid upon death, or moving into long-term care.

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