Top Streaming Service Gains Double the New Users of Competitors in 2024
Netflix and other major streaming services have seen a surge in paid U.S. subscribers this year, outpacing their competitors in the ever-intensifying battle for viewers. The streaming giants, including NBC, Paramount Global, and Warner Bros. Discovery, have managed to attract more paying customers, while others have struggled to keep up with the changing landscape of television consumption.
According to data from Antenna, a platform that monitors paid subscriber numbers, Netflix has emerged as the fastest-growing streaming service of the year, adding a substantial 2.6 million subscribers from December to May. This growth significantly outpaced its closest competitor, NBC’s Peacock, which added 1.38 million new paid subscribers during the same period.
Warner Bros. Discovery’s Max and Paramount Global’s Paramount+ also experienced positive growth in paid subscribers in 2024, with 609,947 and 357,465 additions, respectively. These services have seen an uptick in subscribers due to their offerings of popular live content and highly anticipated new shows. Paramount+, for instance, 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 success can be attributed to its streaming of the Olympic trials ahead of the 2024 Paris games and its collection of beloved “comfort shows” like “The Office” and “Parks and Recreation.” Meanwhile, Netflix continued its dominance in the streaming arena with successful releases such as the live roast of Tom Brady, “Bridgerton” Season 3, and “Fool Me Once.”
The subscription economy is projected to reach a staggering $635 billion by 2025, indicating the continued growth and importance of streaming services in the entertainment industry. Despite the success of Netflix and its counterparts, other platforms like Starz, Apple TV+, Hulu, and Disney+ have experienced subscriber losses in 2024, highlighting the competitive nature of the streaming market.
As the streaming wars continue to evolve, it is evident that content remains king in attracting and retaining paid subscribers. With a plethora of options available to viewers, streaming services must continue to innovate and offer compelling content to stay ahead in this rapidly changing landscape.
