Apple TV+ Overtakes Paramount+ in US Market Share, Making Significant Progress
Apple TV+ has seen a notable rise in the US market, achieving a 9% market share in the second quarter of 2024. This progress represents a one-percentage-point increase from the previous quarter, where the service held an 8% market share. The growth is primarily credited to the platform’s expanding content library, with upcoming releases including new seasons of popular series like Severance, Silo, and Pachinko, as previewed during the Worldwide Developers Conference (WWDC) 2024.
Based on a recent JustWatch report, Apple TV+ has surpassed Paramount+, which also holds a 9% market share. The platform is now closing in on Hulu, which commands a 10% share, and Disney+, leading with an 11% share. The report underscores the strong performance of Apple TV+’s original content on streaming charts, contributing significantly to its increasing market presence.
In the competitive US streaming landscape, Amazon Prime Video and Netflix continue to lead with a 22% market share each. While Amazon Prime Video faces challenges in maintaining its lead, Netflix has experienced slight growth. Max (formerly HBO Max) maintains a 14% market share.
The US market share ranking from JustWatch is as follows:
1. Amazon Prime Video: 22%
2. Netflix: 22%
3. Max: 14%
4. Disney+: 11%
5. Hulu: 10%
6. Apple TV+: 9%
7. Paramount+: 9%
8. Others: 3%
Apple TV+’s upward trajectory signifies its growing influence in the competitive streaming industry. The platform’s success highlights its ability to carve out a space in a market dominated by established players. This growth underscores the platform’s commitment to delivering compelling original content and expanding its library to attract and retain viewers.
As the streaming market continues to evolve, Apple TV+ is making significant strides, positioning itself as a key player in the increasingly competitive landscape. With a focus on quality content and strategic growth initiatives, Apple TV+ is solidifying its presence and making a mark in the dynamic world of streaming services.
