Top Streaming Service Gains Double the New Users of Competitors in 2024
Netflix and several other major streaming services have seen a significant increase in paid U.S. subscribers this year, outpacing their competitors in the ongoing battle for viewership as more people move away from traditional cable services.
Leading the pack is Netflix, which experienced the most substantial growth among streaming services from December to May, adding 2.6 million new paid subscribers. This surge in subscribers solidifies Netflix’s position as the fastest-growing streaming service of the year. Following closely behind is NBC’s Peacock, which added 1.38 million new paid subscribers in the same period.
Warner Bros. Discovery’s Max (previously known as HBO Max) and Paramount Global’s Paramount+ have also seen positive growth in paid subscribers in 2024, with 609,947 and 357,465 additions, respectively. The success of these services can be attributed to their offerings of popular live content and highly anticipated new shows. For instance, Paramount+ streamed the Super Bowl in February, while Max boasted hit series like “True Detective,” “The Last of Us,” and “House of the Dragon.”
Peacock’s strategy included streaming Olympic trials ahead of the 2024 Paris games and offering beloved shows like “The Office” and “Parks and Recreation” for binge-watching. Meanwhile, Netflix continued its streak of success with the live roast of Tom Brady, the release of “Bridgerton” Season 3, and popular shows like “Fool Me Once.”
In terms of growth, Netflix remains at the forefront, with a total of 64.8 million paid subscribers, followed by Peacock with 28 million, Max with 19.8 million, and Paramount+ with 31.8 million. Antenna, a platform tracking paid subscriber numbers, provided these insights based on the latest available data.
The subscription economy is projected to reach $635 billion by 2025, indicating the continued growth and importance of streaming services in the entertainment industry. As viewers increasingly turn to streaming platforms for their entertainment needs, the competition among streaming services is expected to intensify further.
Despite the success of these leading services, others like Starz, Apple TV+, Hulu, and Disney+ have experienced a decline in subscribers this year. The landscape of streaming services continues to evolve, with companies vying for a larger share of the market and offering compelling content to attract and retain subscribers.
Overall, the streaming industry is witnessing dynamic growth and fierce competition, with Netflix and other major players driving innovation and content creation to meet the changing preferences of viewers in the digital age.
