Channel 4, Channel 5 and Sky also among UK broadcasters making cuts as Netflix, Disney and Amazon pile on pressure

UK broadcasters slashed their spending on big-budget TV shows to the lowest level in almost a decade last year, even as their US rivals Netflix, Disney and Amazon ploughed hundreds of millions more into British-made premium content.

In a sign of the increasing competitive pressures of the streaming era, the amount spent on high-end TV shows costing more than £1m an hour to make by domestic operators such as the BBC, ITV, Channel 4, Channel 5 and Sky, plunged by a quarter last year to £598m.