Netflix reveals $6 billion spend on UK content over four years as Prime Minister Rishi Sunak welcomes investment

Netflix has invested nearly $6 billion in UK content over four years to the end of 2023, the streamer has revealed.

Netflix announced the news tonight at a showcase in London, saying it has spent an average of about $1.5 billion a year on movies and TV series since 2020. It spent $1 billion in 2020, meaning the number would likely have been higher in 2021, 2022 and for this year. Netflix did not provide an annual breakdown of the numbers.

According to Netflix VP, Content for the UK Anne Mensah, the $6 billion figure “represents an almost 50% increase from what we originally expected.”

Prime Minister Rishi Sunak praised the investment and said: “It is very pleasing that Netflix is ​​significantly increasing its investment in the UK, demonstrating the tremendous strength of our television and film industry as the largest in Europe.”

Netflix has commissioned high profile shows with big budgets like Sex education, The crown And heart stop since entering the original UK market in 2014. In that time the company has grown to become a major investor in the manufacturing sector and a competitor to terrestrial broadcasters BBC, ITV, Channel 4 and Channel 5 and pay-TV giant Sky.

Sunak said Netflix had become “an important part” of the UK creative industry, which employs around 2 million people.

John McVay, chief executive of independent producer organization PACT, said the investment was “a real vote of confidence in the UK film industry, reflecting our tradition of creative excellence, highly skilled crews and state-of-the-art facilities. All of which make this country one of the best producing areas in the world.”

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