November 26, 2020
After signing a 10-year lease for original content production at Shepperton Studios in the United Kingdom, Netflix has significantly upped content spending across the Atlantic.
The streaming video behemoth is reportedly set to spend $1 billion (£750 million) on U.K. episodic and feature film productions in 2020, up from the £500 million spent in 2019 and spearheaded by “The Witcher,” starring Henry Cavill (Man of Steel).
Netflix, which launched streaming service in the U.K. and Ireland in 2012, topped more than 13 million subscribers in the region at the end of March.
“The U.K. is an incredibly important market to Netflix and we are proud to be increasing our investment in the U.K.’s creative industries,” a Netflix U.K. rep told The Guardian. “‘The Crown,’ ‘Sex Education’ and ‘The Witcher’ are among the shows that have been made in the U.K. this year and will be watched by the world. These shows are a testament to the depth of talent that exists here.”
Regardless, Netflix’s content spend still lags that of the BBC’s TV spend of £1.6 billion and ITV’s £1.1 billion, respectively. Both companies co-own BritBox, a competing SVOD service launched in the U.S. and now also operating in the U.K. and Australia.