The UK government has announced that streaming services such as Netflix Inc. (NASDAQ:NFLX), Amazon.com Inc. (NASDAQ:AMZN) Prime Video, and Disney+ from Walt Disney Co. (NYSE:DIS) will now be regulated under the same rules as traditional broadcasters like the BBC.
Britain has decided to bring streaming platforms under the jurisdiction of Ofcom’s broadcasting code. The objective of this move is to protect audiences from harmful content and ensure the availability of accessibility services such as subtitles.
Under the new rules, major streaming platforms must provide subtitles for at least 80% of their content, audio descriptions for 10%, and signed content for 5%. Services with over 500,000 UK users will also be required to meet these standards and ensure that news coverage is accurate and impartial.
UK Homes Embrace Streaming Over TV
UK Government data indicates that two-thirds of households have at least one major streaming subscription, while 85% of people use an on-demand service monthly, compared with 67% who watch live television.
Meanwhile, in August, Netflix stated that it invested $6 billion in the U.K. over the past four years, employing 50,000+ cast and crew and partnering with 200+ producers to create globally popular British content. It remains the company’s second-largest investment market after the U.S.
Streaming, Tech, And Regulation Shift
The decision by the UK government comes at a time when the global tech and streaming landscape is undergoing significant changes amid the regulatory framework.
Reports last week suggested that the U.S. State Department is developing an online portal to provide access to content banned by European and other governments. This move aims to bypass censorship by granting access to restricted content.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock
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