Research by price comparison site Finder.com reveals that TV viewers in the UK spend £303.16 million ($429 million) a month on TV streaming services, including Netflix, Amazon Prime, Now TV and Hayu.
According to a survey of 2,000 UK adults, over 17 million Brits (41.1%) are subscribed to a TV streaming service. Two in five Brits are subscribed to at least one streaming service, spending an estimated average of £17.75 ($25) per month.
When it comes to TV viewing habits, millennials are the most addicted generation with one in 10 (11.8%) subscribing to over three services, costing them over £20 ($28.35) a month on average, to get their TV streaming fix. Men spend more on TV streaming than women, paying £19.82 $28) per month for subscriptions compared to £15.42 —£52.80 ($21.30 – $75) more than women per year.
As for preferred providers, Netflix and Amazon Prime are the most popular services in the UK, with over half (59.7%) choosing Netflix, followed by 47.5% subscribing to Amazon Prime. The majority of millennials (69.4%) have a Netflix subscription.
Finder’s research also revealed that London is the most TV-addicted region across the UK, with one in 10 adults using three or more services, followed by the North East and East Midlands. Jon Ostler, CEO of Finder.com, said:
“TV streaming is becoming the norm for many households across the UK. But with seemingly cheap monthly costs, it can be easy to spend more than you realise if you sign up to several providers. Before signing up for a subscription service, make sure you choose the right one for you, bearing in mind both the content they provide and the compatibility with your devices.
Some services offer high-definition streaming, which is great if you have an Ultra HD-compatible TV; otherwise, you may be happy with a standard definition option. Also, make sure you’re getting the best value from your subscription; for rolling-month contracts, you’re perfectly within your right to cancel it for months that you’re going to be away or too busy to catch up on your binge-watching”.
