Households are ready to pay an extra £600 million a year for streaming TV subscriptions as Apple TV+ and Disney+ take on Netflix in the battle for UK viewers according to research from uSwitch.com.
Consumers say they will budget £15.50 a month for steaming subscriptions once the new services have launched which is an increase of £3 a month according to the research.
Netflix is currently the most-watched service, used by 67 per cent of streaming fans, with BBC iPlayer in second place 58 per cent and Amazon Prime in third with 44 per cent.
Of the new entrants to the streaming market, Disney+ was the most popular with one in 10 set to pay for a subscription while Apple TV+ was backed by six per cent and BritBox by five per cent of streaming TV users.
As more streaming services enter the market, 74 per cent of consumers fear that watching their favourite shows could get more expensive and 19 per cent think they are likely to miss out on their favourite shows as a result.
uSwitch.com streaming expert Dani Warner said: “Some telly addicts might feel like a kid in a sweet shop at the thought of all the streaming services that will soon be available to them.
“But the increase in competition created by the Streaming Wars may have a downside for consumers, who could find their favourite shows are scattered across countless subscriptions that, once combined, may cost far more than people are willing to pay.
“Binge watchers need to get savvy and no longer just sign up to a service for life, but instead embrace streaming switching: sign up to a service and then, once you have watched the shows you want to see, end your subscription until you need it again.”