Netflix reported £2.06B in UK revenues for 2025, topping ITV for first time, Deadline reports

Netflix has reportedly overtaken ITV in the United Kingdom for the first time based on full-year revenue figures for 2025, according to a report by Deadline published Monday. Deadline said Netflix posted £2.06 billion in UK revenues for the year, equivalent to about $2.81 billion.

In Deadline’s accounting, the Netflix figure represents more cash revenue generated in the UK market than that of ITV, which the report describes as the country’s leading commercial broadcaster. Deadline did not attribute the numbers in its summary to a specific filing or regulator in the provided text, but it frames the comparison as a milestone for Netflix’s local performance.

Deadline also placed Netflix ahead of other UK commercial and niche competitors by pointing to revenues it cited for Channel 4 and Paramount-owned channel 5. Channel 4 was described as posting about £1.0 billion, while 5 was cited at about £318 million, with the BBC characterized separately as being funded through the licence fee rather than commercial advertising-led revenue.

The report situates the figures within the broader UK television ecosystem, where the BBC’s financing structure differs from commercially driven broadcasters and where streaming services increasingly compete on both audience demand and the economics of rights, production, and advertising markets. Deadline’s framing suggests Netflix’s UK revenue growth has reached a point where it is now larger than the country’s main commercial television operator, at least by the metric presented.

A key point in Deadline’s comparison is the distinction between “revenues” for Netflix and the different funding models used by UK public service broadcasters. Deadline noted that the BBC is financed via the licence fee, underscoring that direct comparisons between the BBC and commercial broadcasters can be complicated when funding streams and accounting categories differ.

Netflix’s UK performance is likely to be watched by UK media stakeholders because revenue levels can affect negotiations over programming budgets, the availability of rights for UK talent and production services, and the scale at which platforms can invest in new series, acquisitions, and marketing. Higher platform revenue can also intensify competition for audiences, potentially shaping commissioning decisions by legacy broadcasters and independent producers.

In the immediate term, the practical effect of the reported figures is mainly informational and commercial, establishing a benchmark for Netflix’s market footprint in the UK. Deadline’s report provides the headline comparison, but it also indicates that additional context, such as how each broadcaster defines and reports revenue, may matter for a full interpretation of what “overtake” means across different business models.

Deadline’s milestone also highlights that UK streaming competition is increasingly measurable in the same general categories used to track traditional broadcasters. While the report focuses on a single-year comparison, the next question for industry observers will be whether the gap persists in subsequent reporting periods and how rights spending and audience strategies align with the revenue growth reflected in the figures cited by Deadline.