Netflix has reached a major milestone in the UK after generating £2.06 billion ($2.81 billion) in revenue during 2025, overtaking ITV’s media and entertainment business for the first time. The figures mark another significant shift in Britain’s television industry as streaming platforms continue to challenge the country’s established broadcasters.
According to Deadline, Netflix’s UK revenue increased 11.3% from £1.85 billion in 2024. The growth was driven by a 7% increase in the average number of paying customers and higher average monthly revenue per paying member. Netflix also reported operating profit of £44.9 million for 2025, while profit after tax rose 11.5% to £53.3 million.
Netflix’s UK Growth Reflects Changing Viewing Habits
Netflix’s £2.06 billion revenue surpassed the £1.9 billion generated by ITV’s media and entertainment division in its latest full-year results. ITV’s total company revenue remains substantially higher when its ITV Studios production business is included, reaching £4.12 billion.
The streaming service’s growing financial presence reflects its wider influence on UK audiences. Netflix has produced several major British hits in recent years, including Baby Reindeer, The Gentlemen, and Adolescence, while its continued investment in original programming has strengthened its position in the market.
The latest figures also come as viewing habits continue to move toward streaming. Ofcom’s Media Nations 2026 report found that 26% of UK viewers turn to Netflix first when deciding what to watch, compared with 25% for the BBC and 15% for ITV. The regulator noted that the difference between Netflix and the BBC was not statistically significant, but the results nevertheless underline how closely streaming services now compete with traditional broadcasters.
Netflix’s revenue growth also comes as UK broadcasters face declining linear television audiences, even though their on-demand services remain important. Ofcom reported that traditional broadcaster content still accounts for a large share of viewing, while services such as BBC iPlayer and ITVX have continued to attract audiences.
Netflix launched in the UK in 2012 during its first major European expansion. Fourteen years later, its latest financial milestone shows how dramatically the British television terrain has changed, with the company now generating more UK revenue than ITV’s media and entertainment division.
