Netflix, Spotify and Apple power UK entertainment revenue to record
£6.1b
The rise in popularity
of paying for TV content from the likes of Netflix, Apple’s iTunes, Sky Store
and Amazon Prime fuelled a 30% surge in digital video revenues to top £1bn for
the first time (£1.09bn). The digital boost countered a 15% fall in sales
of DVD and Blu-ray on the high street to £1.07bn and a 28% decline in the
physical rental market to £76.9m, as the overall video market crept up by 1.5%
to £2.24bn. This year will mark the point that digital video will surpass
physical sales to account for more than 50% of total video revenues for the
first time – but the disc is not on the verge of extinction just yet.
YouTube boss: 'Aim to be the next PewDiePie, not
the next Tom Cruise'
Internet video has
become so important, and Kyncl’s role so influential, conference attendees at
the Consumer Electronics Show formed a line through the casino. Four hundred
hours of video are shared on YouTube every
single minute. More than a billion people watch something on the site every
month. And if those stats weren’t enough, Kyncl added that 600,000 people cut
their cable subscriptions last quarter, a sobering new record for the
industry. The big news Kyncl might have talked about is the new paid
subscription service YouTube Red. This is not to be confused with popular porn
site RedTube. YouTube Red is aimed at very young consumers who want more
content from ultra viral stars like PewDiePie (whose channel has nearly 11 billion views) or
who want to skip ads that are put on the most viral content. Kyncl sees stardom
becoming even more fractured as internet celebrities have better revenue
streams.
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