BBC To Compete: Netflix, Inc. (NASDAQ:NFLX) In The Streaming Business

BBC is all set to come up with a subscription streaming service Britflix which is still in the early stages of development.
Netflix Inc. has now become a true global TV network as it vigorously expanded in 130 new countries at the beginning of this year. The company’s second biggest market is United Kingdom, obviously after United States, and it has been cementing its position ever since its introduction in the UK market. However the case is same for the US streaming business in the region as it has in homeland and other regions i.e. competition. According to Telegraph, it is believed that BBC is all set to directly compete Netflix in the UK streaming industry.The BBC (British Broadcasting Corporation) known as a British public service broadcaster in the UK and all over the world has been given a green light from the government to go on with its plan for a new streaming subscription service. BBC’s project is named as Britflix which is currently in the early stages of development. The project comes in collaboration between BBC and its commercial rival ITV. The world is adapting the digital media age very well and as John Whittingdale says that at this point the traditional television and online television both exist. However there will come a time soon where television will only be delivered online.Telegraph reports that a White Paper was unveiled on Thursday in which the future of BBC was planned. The Paper called on the corporation to develop some form of additional subscription services over the coming years.The government along with Mr. Whittingdale is content with the project that BBC will lead. This will not only give more options to the people and intensify the streaming business competition in the region but will impose great threat on the market share of Netflix in the United Kingdom. This is because a local corporation is coming up with a subscription streaming service but being a local service it might come up with a better content catalog than Netflix. It was recently revealed that the UK content catalog is three times less than the US catalog.John Whittingdale adds, “We’re moving into a different world where more and more content is going to be made available on demand. Collaboration with other broadcasters and other production companies we think is important. If they want to explore that kind of thing, we’d encourage them. There may come a moment in the future where all television is delivered online, and if you do that it becomes a more realistic practical possibility if you wanted to move towards an element of voluntary subscription.”