London – Online platforms Netflix and Amazon have ramped up their investment in programming, spending $7.5 billion last year — more than CBS, HBO, Turner and most countries, including South Korea and Australia. Between 2013 and 2015, Netflix and Amazon more than doubled their annual expenditure on programming. In 2013, Amazon spent $1.22 billion; that jumped to $2.67 billion in 2015. In the same timeframe, Netflix spending rose from $2.38 billion to $4.91 billion.

The findings from World TV Production Report 2016, a forthcoming report by IHS Markit examined how TV programme producers are adapting to the era of Internet TV. Other online platforms like Hulu in the United States and China’s Youku Toudu, iQifyi and Tencent have also increased their investment in original programming and acquisitions.