Netflix overtakes ITV in the UK for the first time with £2.06bn annual revenues

Netflix posted £2.06 billion ($2.81bn) in full-year UK revenues, overtaking commercial broadcaster ITV for the first time. Channel 4 recorded £1bn in revenues, while Paramount-owned Channel 5 reached only £318m. The milestone marks a turning point for the British media market, signalling the dominance of streaming over traditional television.