How can BBC Compete with the Streaming Giants?
BBC must innovate and take creative risks in order to compete with global streaming giants.
19:59 13 November 2017
BBC chief Tony Hall says that British content “is under serious threat” as Netflix and Amazon ramp up. He added that spending on TV programming in the UK might fall by as much as £500 million over the next decade.
He said: “We have to face the reality that the British content we value and rely upon is under serious threat,”
“In the U.K. we often think of the BBC as a big player, but today the media market is truly global. And in that vast solar system, we are tiny compared to the huge gas giants of the U.S. And every day they’re getting bigger. That is why we must continue to innovate, back new ideas and take creative risks. We will never simply compete on money alone. It is why the reinvention of the BBC for the modern age is so important.”
The warning comes on the heels of comments this week made by Jane Featherstone, one of the UK’s best-known drama producers. She said that Netflix and Amazon are set to pull back from co-production and the content they commission out of Britain will narrow on focus.
Hall said that something could be done to save the UK content. “The BBC has always shown a great ability to adapt to new challenges and make them opportunities. If we get the response right now, and the rest of the industry does the same, then we can safeguard the future of home-grown content, and rather than British content diminishing, we can kick start a new golden age for British production.”