Nielsen recently released its latest rankings of the major streaming services based on their popularity in July. The results showed YouTube maintaining its lead, with Netflix closely following in second place. The next tier included Prime Video, Hulu, Disney+, and Tubi, while HBO Max fell to ninth place, trailing behind a surging Peacock that saw a boost in viewership due to the Olympics.
The rankings are determined by the total number of minutes viewed, representing a percentage of overall consumption share. It’s worth noting that these rankings do not directly correlate with profitability. Free services like YouTube, Tubi, and Roku have an advantage, but HBO Max’s consistent placement in the lower tier suggests room for improvement despite its substantial subscriber base.
Although HBO Max recently surpassed 100 million subscribers, its viewership numbers have not seen a significant surge. Even with popular shows like “House of the Dragon,” which ranked consistently high, the service has struggled to make substantial progress. Financially, HBO Max experienced losses earlier in the year and, despite gaining more subscribers, it still faces challenges in achieving profitability due to high operating costs.
In contrast, Peacock, despite facing losses, garnered significant viewership during the Olympics, with viewers consuming an estimated 4.5 billion minutes of content in just three days. Ad revenues also saw a notable increase, signaling a positive trajectory for the service following the sporting event.
While HBO Max has faced criticism for content removal, it boasts an impressive library and the prestige of HBO programming, making it a strong contender in the streaming landscape. With the addition of Discovery content, there is potential for HBO Max to rise in popularity. However, finding the right strategy to attract more viewers remains a key challenge for the service.
The streaming landscape continues to evolve, with services like Peacock leveraging major events like the Olympics to boost viewership. As the competition intensifies, each platform must navigate challenges to secure their position in the market and attract a loyal audience.
