Slow uptake of ad-supported offering has meant lower than expected viewing figures, made worse by UK cost of living crisis
However the dire state of the UK economy – with inflation running at a four-decade high of almost 11% and an outlook“Given the wider economic pressures the UK is facing I’m not expectingto go back to growth in 2023,” says Richard Broughton, director at Ampere Analysis. “Our base assumption is Netflix moves back into growth with the UK economy, which is likely to be 2024.”
In November, Netflix launched its ad-supported subscription offer in the UK and about a dozen other markets – priced at £4.
In terms of revenues, Netflix is forecast to have hit $40bn globally in 2027 had it not launched its new ad tier. However, instead the company can expect to bring in $43bn in total revenues, with subscription income shrinking to $36bn but advertising rapidly growing to $7bn in 2027.
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