Amazon Prime Video Surges Past Netflix with Unmatched Film Library Growth!

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2024 marked a significant leap forward for Amazon’s Prime Video in the U.S market. According to Parrot Analytics (via TheWrap), the service climbed from fourth position in overall demand for content on Subscription Video on Demand (SVOD) platforms during the first quarter, to second place by the fourth quarter. It trails behind the leading streamer, Netflix. A key factor contributing to their success is their extensive film library, which we’ll delve into shortly.

Based on the statistics, Prime Video’s market share increased significantly from 13.3% to 16.7%, surpassing both Max and Hulu during this period. Moreover, it outperformed Netflix by holding the largest demand for films in the United States, rising from 6.8% in Q1 to an impressive 10.7% in Q4.

In a significant boost, Prime Video significantly increased its collection of movies by an impressive 71.7% from Q1 to Q4. Meanwhile, during the same timeframe, Netflix experienced a decline of -2%, Peacock showed a positive growth of 17.8%, Hulu suffered a drop of -8.6%, and Max saw a decrease of -20.9%. In terms of size of movie libraries among U.S. SVOD platforms, Paramount+ came in sixth place with a growth of 5.7% and Disney+ followed closely behind in seventh place with an increase of 3.4%.

Films Are an Important Part of Prime Video’s Streaming Strategy

Before 2024, Prime Video boasted the largest collection of movies among streaming platforms, expanding by more than 70% in the previous year. This figure, however, does not account for films available for purchase or rental. From Q1 to Q3 in 2024, this movie library accounted for approximately 36.3% of revenue generated from streaming subscribers, making it second only to Peacock. According to Parrot Analytics, series tend to attract more streaming hours than movies, which makes this a notable achievement for Prime Video. It’s also home to popular series like “The Boys”, “Bosch”, “Invincible”, and others.

It’s important to mention that Amazon Prime Video currently has a contract with Universal Studios, which includes adding live-action films to their library. However, this agreement expires in 2027, and Netflix stands to benefit from it. The future impact on Prime Video’s position as a streaming giant is yet to be determined.

Amazon Prime Video boasts a substantial collection of original movies that have significantly contributed to its achievements, and one noteworthy instance is the successful remake of “Road House” starring Jake Gyllenhaal. The upcoming sequel is expected to bolster this success even more.

Additionally, the streamer’s numerous agreements with movie producers for licensing rights proved fruitful. According to data from an analytics firm, Terrifier and Terrifier II, two of the most sought-after films last year, saw increased demand partly due to the premiere of the third installment. The success of Gladiator leading up to the unveiling of its much-anticipated sequel is a testament to this approach as well. It’s evident that strategically releasing films around the time when sequels are out is a smart move.

Despite the expiration of their Universal partnership in 2027, Amazon Prime Video continues to secure impressive deals with film studios. Recently, they struck a deal with Lionsgate, which means popular franchises like John Wick, Hunger Games, Now You See Me, and others will now be available for streaming on the platform. This agreement benefits both companies, as Lionsgate faced financial struggles in 2024 due to costly box office flops such as the video game adaptation Borderlands and the remake of The Crow.

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2025-01-31 22:03