Winning Streaming Services in 2024

The latest data on the market share of subscription video on demand (SVOD) services in the U.S. for the 4th quarter of 2024 has been released. According to JustWatch, a popular streaming guide with millions of users, Amazon Prime Video emerged as the most popular streaming service with 22% market share, closely followed by Netflix at 21%.

Throughout 2024, Netflix managed to gain ground on Amazon Prime Video, showcasing some jockeying for the top position. Following the two major contenders are Max with 13% market share, Disney+ with 12%, and Hulu with 11%.

Interestingly, there was a noticeable rise in the “Other” category of streaming services, indicating a growing interest in niche providers. Hulu also showed steady growth, giving a tough competition to Max for the third spot. On the other hand, Disney+ struggled to attract a wider audience despite its efforts.

The trend observed in the 4th quarter reflects the annual market positioning, with Peacock from NBC barely making a 1% mark. The post-pandemic period saw a surge in new streaming providers entering the market, intensifying competition and challenging existing players to maintain their momentum.

To stay competitive, many streaming services are opting to merge with others to strengthen their content offerings. Original content has become a key strategy for platforms like Netflix to attract and retain subscribers, driving up costs for niche players. Even Amazon Prime Video, known for its Prime membership program, is facing challenges as prices rise and service inclusions change.

Data collected by JustWatch from its website, TV, and mobile apps provides insights into user preferences and behaviors, helping users create watchlists and access content from different service providers. As the streaming landscape continues to evolve, keeping an eye on changing market dynamics and consumer demands will be crucial for streaming services to stay relevant and competitive.