Streaming services overtake pay TV in the UK

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Walmart is considering the launch of a subscription-based video streaming service to rival Netflix and Amazon Prime Video, according to a report Monday.

Both services have seen price increases recently as well-Netflix raised the price of its top-tier 4K streaming plan by $2 and its mid-tier plan by $1 at the end of past year, while an Amazon Prime annual subscription jumped to $119 in May (Prime Video is included in a Prime membership).

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The data discovered that over 39% of United Kingdom households (11.1m) havet at least one on-demand streaming service subscription.

"We have seen a decline in revenues for pay TV, a fall in spending on new programs by our public service broadcasters, and the growth of global video streaming giants", she said.

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Walmart believes there's an opportunity to serve customers "in the middle of America", as Netflix and Amazon tend to be more popular with East and West Coast audiences, sources told the publisher. Subscription revenue generation was down 2.7 per cent past year to £6.4bn.

But the shift is undeniable - as smart devices proliferate, broadcast television viewing sessions fell to just around three hours a week on average. These challenges can not be underestimated.

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Among children and viewers aged 16-34, the decline was steeper, leading to the over-65s watching four times as much broadcast television as children in 2017. "By making the best British programmes and working together to reach people who are turning away from TV, our broadcasters can compete in the digital age". While not able to compete with the industry's big hitters, it offers thousands of movies to buy and rent, and the ad-supported "Movies on Us" lets users watch certain titles for free. Walmart is of the belief that those on the USA coasts are more likely to subscribe to Netflix et al., and that the center of the country is ripe with potential customers.

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