Netflix Reveals $6B UK Content Spend Across Four Years As Prime Minister Rishi Sunak Hails Investment

Netflix will have invested almost $6BN in UK content over four years by the end of 2023, the streamer has revealed.

Unveiling the news at a London Showcase tonight, Netflix said it has been spending an average of around $1.5BN on films and TV series each year since 2020. In 2020, it spent $1BN, which means the figure would likely have been higher in 2021, 2022 and for this year. Netflix did not provide a year-by-year breakdown of the figures.

According to Netflix VP, Content for the UK Anne Mensah, the $6BN figure represents “an increase of nearly 50% on what we originally anticipated.”

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Prime Minister Rishi Sunak hailed the investment, saying: “It is hugely welcome to see Netflix significantly increase its investment in the UK, demonstrating the sheer strength of our TV and film industry as the largest in Europe.”

Netflix has commissioned high-profile, big-budget shows such as Sex Education, The Crown and Heartstopper since entering the UK originals market in 2014. In that time it has become a major investor in the production sector and a rival to terrestrial networks the BBC, ITV, Channel 4 and Channel 5, and pay-TV giant Sky.

Sunak said Netflix had become “a key part” of the British creative industries, which employ around 2M people.

John McVay, CEO of indie producers body PACT, said the investment was “a real sign of confidence in the UK’s screen industries, reflecting our tradition of creative excellence, highly skilled crews and state of the art facilities. All of these things come together to make this country one of the best places in the world for production.”

Former Sky drama boss Mensah said Netflix is “deeply committed to the UK,” as she used a speech at the Showcase to unveil three new series, which you can read about here.