As someone who’s spent countless hours binge-watching shows on various streaming platforms, I must say that AMC+ has certainly carved out its niche among the giants like Netflix and Disney+. While it may not boast the same subscriber numbers as its competitors, it holds a unique charm with its curated content.
As a movie enthusiast, I find myself drawn to the revolutionary world of streaming media, which gained significant traction since Netflix’s platform debuted in 2007. Intriguingly, by June 2024, it’s been estimated that more than 40% of family homes have dedicated television sets solely for using these services, outnumbering both broadcasting and cable services in popularity. Staggeringly, a whopping 83% of North American households are reported to subscribe to at least one streaming platform, with the average American spending approximately 3 hours and 6 minutes daily on streaming media in 2023 (according to Exploding Topics). The rise of streaming has undeniably changed the way we consume films and television, and I can’t wait to see what the future holds for this captivating medium.
The market for streaming services has grown immensely competitive, with a valuation surpassing $1 billion. Numerous platforms have emerged and faded over time. Yet, certain dominant players have managed to thrive by developing innovative strategies to expand their brand and creating exclusive content that attracts both financial investment and viewer engagement.
Let’s take a detailed look at the four popular streaming platforms we’ve talked about before, demonstrating their strong positions within the tough market, and also acknowledging the other key players who have successfully claimed their territories.
Netflix Is a Pioneer in the Streaming Industry
Netflix didn’t invent streaming, but it has been a groundbreaking innovator in this field. Initially started as a DVD/Blu-ray rental and delivery service, it cleverly leveraged its success to venture into streaming, officially launching on January 15, 2007. Being an early adopter has granted Netflix a leading position in the streaming market, making it the go-to source for many viewers today.
Despite numerous streaming platforms boasting a wealth of original content, it’s challenging to ignore the remarkable success Netflix has achieved with its international offerings. Shows like “Cyberpunk: Edgerunners,” “Devilman Crybaby,” and “Squid Game” from South Korea have become popular favorites, as well as anime series such as “Sweet Home.” Additionally, original hits like “Wednesday,” “Stranger Things,” and “The Queen’s Gambit” are hard to miss. The platform is also home to some of the most discussed reality TV shows, such as “Love is Blind” and “The Circle.” In terms of original content, Netflix reigns supreme; but when it comes to numbers, what does that mean?
Netflix Is the King of Original Content
Despite facing various controversies such as political donations leading to a boycott call and increased scrutiny over password sharing and price hikes, Netflix’s subscriber count continues to expand significantly. As per Statista, by Q2 of 2024, the streaming giant boasted approximately 277.65 million paid users worldwide – marking an impressive rise of over 8 million from the previous quarter.
The company’s market share also reflects its efforts to attract content from around the globe. According to Business of Apps, while Netflix makes the most money from the US and Canada (44% of its revenue), in 2023, it reported 79.8 million users in EMEA (Europe, Middle East, and Africa) compared to North America’s 75.5. They have also made substantial gains in the Asia-Pacific region, growing from just over 10 million in 2018 to over 40 million in 2023. Regarding overall health, in 2023, Netflix reported $33.72 billion in profits, with $13 billion of that going to new Original content production (via BacklinkO).
Quick Facts:
- The median age of Netflix users is between 35–44 years old.
- Despite attempts to clamp down on password sharing, an estimated 31% of users do not pay for the platform.
- Netflix has 1,300 “recommendation clusters,” populated based on user experience.
- The most watched original is Wednesday, with 252.1 million views.
- Netflix acquired the global streaming rights to Seinfeld for more than $500 million in September 2019.
- Adults spend an average of 62.1 minutes per day watching Netflix, an increase from 53.3 minutes in 2019.
Prime Video Is Netflix’s Biggest Competitor
Amazon’s video streaming platform, initially known as Amazon Unbox on September 7, 2006, went through several name changes like Amazon Instant Video in 2011, and eventually became widely recognized as Prime Video. This service is powered by its parent company, Amazon, which, as of August 13, 2024, boasts a market capitalization of around $1.75 trillion, solidifying its position as a global power in the industry.
The colossal streaming platform has taken significant steps, such as securing rights for live broadcasts of events such as NFL matches, and partnering with MGM Studios. While it is widely recognized for its self-produced content like “The Boys”, “Fleabag”, “Fallout”, “Outer Range” to name a few, its extensive library also houses shows and movies like “Air”, “Borat Subsequent Moviefilm”, and “One Night in Miami”.
Backed By the Might of Amazon
Amazon Prime Video has emerged as a significant contender to Netflix in North America, with analysts predicting that it will surpass Netflix by 2 percentage points (22% vs. 20%) in the first quarter of 2024. This competitive edge may be attributed to Amazon’s unique structure, which integrates its streaming service as a benefit for Amazon Prime members. By 2024, it is estimated that Prime Video will have approximately 200 million subscribers worldwide.
2024 is poised to be a crucial year for the streaming platform as it plans to launch an ad-supported tier of Prime Video in markets like the U.S., U.K., Germany, and Canada. Business Insider reports that this move could potentially bring in around $5 billion in revenue for Amazon Prime, with extra earnings from viewers who opt out of ads by paying additional fees. While more ads might not be welcome news for consumers, it could lead to significant financial growth for the streaming service, possibly leading to increased content production in 2024 and beyond.
Quick Facts
- Prime’s largest audience is 25 to 34 years old, which makes up about 32.63% of the audience.
- Fallout became the second-most-watched title on Prime Video within two weeks of its release, with 65 million viewers watching the premiere.
- Prime Video is the clear leader in the content available on premium streaming platforms, with a library of over 12,000 movies and 2,000 TV series.
- Amazon’s total spending on video content in 2023 reached approximately $18.9 billion, a 14% increase from the previous year.
Disney+ Has a Strong Library of Classic Films
Disney Plus made its debut on November 12, 2019, as a key component of Disney’s efforts to thrive in the world of streaming services. Known for its timeless children’s entertainment through iconic films, Disney has now expanded its offerings to include content from Pixar, Marvel, Star Wars, and National Geographic on Disney Plus. This means subscribers can enjoy blockbusters such as “Black Panther,” “Avengers: Endgame,” “Toy Story,” and “Inside Out,” as well as original TV shows like “WandaVision,” “Loki,” “The Mandalorian,” and “Ahsoka.”
The House of Mouse Offers an Abundance of Classics and Beloved Franchises
Despite boasting a vast collection of content, Disney+ has faced challenges, managing to attract over 10 million subscribers on its launch day using only its existing catalog. However, as reported by Business of Apps, the platform had approximately 157.8 million subscribers as of early 2024, which is below its peak of 164 million subscribers achieved in November 2022. Over the course of its existence, Disney+ has accumulated significant financial losses totaling over $11.4 billion.
Despite facing a slight setback, recording a $20 million loss for the quarter ending March 30, 2024, Disney+ is steadily moving towards profitability. To counteract stagnation and increase its competitive edge, they have started offering combined packages with Hulu in certain regions, thereby providing a broader range of content similar to other streaming platforms. They are also consistently pouring resources into original content production.
Quick Facts:
- The Disney+ content library contains 7,500 TV episodes and 500 films.
- The Mandalorian appears to be the platform’s greatest success, with it recorded in 2020 that the series clocked in 14.5 billion minutes watched.
- WandaVision is reported to have the largest production budget for TV shows on Disney+, with a reported $25 million per episode.
- Children and teenagers (Ages 2-17) make up the largest audience of Disney+, reported to be 45%, notably higher than other streaming platforms (Statista)
- Disney acquired Lucasfilm in 2012 for approximately $4.05 billion but has struggled to profit from the franchise.
Max Features Prestige Television
Previously branded as HBO Max, Max is now owned by Warner Bros. Discovery, a company that has remarkably established it as a force to reckon with in the streaming industry, even though it entered the market relatively late in 2020. This platform offers some of the finest DC Entertainment films and provides access to popular reality TV channels such as TLC and HGTV. Essentially, Max encompasses all content under the HBO umbrella, which has long been recognized as the go-to destination for groundbreaking and trailblazing television.
Max provides Max with an exclusive collection of critically acclaimed series such as Station Eleven, Industry, and The Staircase, along with some of the most popular blockbuster franchises like Harry Potter and the DC Extended Universe, not forgetting a generous portion of addictive shows like 90 Day Fiancé and Good Bones. For those residing in Canada, Max’s content can be accessed through Crave.
A Mix of Class and Big Budget Thrills
By Q1 of 2024, Warner Bros. Discovery announced close to 100 million subscribers for their streaming platforms Max, HBO, HBO Max, and Discovery+, with the biggest markets being Canada and the USA (as per Statista). Although some statistics about Max are a bit old, they still provide a glimpse into how this streaming titan has performed since its launch. As reported by Business of Apps, in 2022, HBO Max generated $534.5 million in revenue through their subscriber base of 50 million.
2020 research conducted by Advance Television reveals that Max outshines other platforms in terms of recognition among millennials (ages 23-38), with 73% being familiar with the service, and approximately a quarter (26%) expressing intent to subscribe. Particularly appealing to younger viewers are Warner Library content and CW Shows. On the other hand, older millennials and Gen X viewers tend to prefer HBO titles and Max Originals. This new data lends support to the belief that Max enjoys a positive edge over its rival platforms.
Quick Facts
- Despite its final season premiering before the launch of HBO Max, Game of Thrones remains the most popular show on the platform.
- House of the Dragon attracted 10 million viewers for its first episode, making it the platform’s most successful premiere.
- The Last of Us is HBO Max’s most-watched title, averaging 32 million viewers per episode.
- Max features approximately 2,200 movies and around 1,200 TV shows, over 35,000 hours of content.
Paramount+ Has Some Sci-Fi and Reality TV Favorites
Paramount+ is a streaming service that belongs to Paramount Global, which was created through the combination of CBS Corporation and Viacom in 2019. This merger grants the platform access to content from both CBS and Viacom, such as live sports events on CBS. For sci-fi enthusiasts, Paramount+ has emerged as the hub for Star Trek, offering all the TV series and originals like Star Trek: Discovery and Star Trek: Strange New Worlds. Other popular shows include The Good Fight, Yellowstone, Mayor of Kingstown, and exclusive South Park movies. Additionally, the reality TV sensation Big Brother can be found on this platform as well.
Home to Beloved Franchises Like Star Trek and South Park
In the opening quarter of 2024, Paramount+ achieved a significant milestone by amassing 71.2 million subscribers globally (as reported by The Verge). However, much like other streaming services, Paramount+ experienced a setback in this period, reporting a loss of approximately $286 million (compared to a loss of $511 million during the same timeframe in 2023). The platform is working diligently to reach profitability by 2025. One of the most-watched programs on Paramount+ is the iconic series, “South Park,” which is part of an extensive collection featuring more than 30,000 movies and TV shows from networks such as CBS, Comedy Central, BET, MTV, and VH1.
Hulu Could See Big Changes in the Future
Disney owns a majority stake in Hulu after acquiring 21st Century Fox in 2019. Although Disney and Hulu are distinct entities, Hulu’s content can be accessed via the Disney+ app, or directly through Hulu. This dual-access arrangement opens up possibilities for significant changes in Hulu’s future over the coming years.
Despite facing competition, Hulu has achieved significant success, notably with shows like “The Handmaid’s Tale,” “Only Murders in the Building,” “The Bear,” and “Shogun,” which are among the most popular and highly praised TV series of recent times. Notably, it is also the home for the famous reality TV family, the Kardashians.
Quality TV Content Has Made Hulu a Streaming Staple
As for the number of subscribers, Hulu currently has approximately 48.5 million paying customers as of November 2023, with about 4.4 million making use of its Live TV service. The streaming platform announced that it had surpassed 50.2 million paid subscribers in Q2 of 2024 (according to Statista).
As stated by Business of Apps in 2023, Hulu generated $11.2 billion in revenue; however, the exact profit derived from this figure remains uncertain. Back in 2019, Disney valued Hulu at a staggering $15.8 billion during its acquisition from Comcast. Since its debut, the platform has thrived due to popular shows like Shōgun and boasts an impressive library of approximately 1,650 series and over 2,500 films.
Apple TV+ Is an Underrated Streaming Service
As a passionate advocate, I can proudly say that Apple TV+ officially debuted on November 1, 2019, and is now accessible in more than 100 nations worldwide. It has been earning a stellar reputation for its top-notch productions, as it collaborates with renowned actors and filmmakers. These collaborations have led to comparisons that favorably place Apple TV+’s content catalog alongside HBO’s esteemed collection.
This includes the breakaway success of Ted Lasso, which garnered critical acclaim and a dedicated fanbase. Other notable original series include The Morning Show, Silo, and Severance. The streaming platform has also come home to high-quality original documentaries, like 1971: The Year That Music Changed Everything, Still: A Michael J. Fox Movie, and Beastie Boys Story.
High-End Content on a Struggling Platform
As per a July 2024 report from Bloomberg, Apple TV+ holds a minor 0.2% share of television viewership in the U.S., implying that Netflix garners more views in a single day than Apple TV+ does in an entire month. In 2022, it was revealed through Statista that Apple TV+ had approximately 25 million paid subscribers, and potentially up to 50 million when considering other deals. These figures, reported in the same year, were relatively modest compared to those of its rivals.
Although Apple TV+’s financial performance hasn’t been extensively covered, it might be operating at a loss given that its parent company, Apple Inc., is worth an astounding $3.36 trillion as of August 2024. Apart from streaming content, Apple TV+ also offers rental options, but they don’t reveal these figures, leaving us unsure if they help balance the low streaming viewership numbers. It’s been reported that Ted Lasso is the most-watched show on the platform, even though it wrapped up its final third season on May 31, 2023.
Tubi Has the Largest Free Streaming Library
FOX Entertainment is the owner of Tubi and has collaborated with more than 400 content providers to offer the most extensive library available online for free, ad-supported viewing (with over 40,000 movies and TV shows). Furthermore, this service provides live TV streaming with over 200 channels. Tubi is renowned for its vast collection of free content, yet it has ventured into creating original TV series and movies as well. Due to its partnerships and being part of the Fox Corporation, Tubi stands out as an exceptional platform to stream everything related to Gordon Ramsay and a haven for timeless children’s classics like Barney.
The Largest Free Streaming Library
Tubi is a streaming platform that has experienced significant expansion since its launch, becoming one of the most popular services in its category. By being at the forefront of ad-supported free streaming and boasting an extensive library of content, it has managed to compete with many other well-known streaming providers. As per Statista’s data from March 2024, Tubi now counts close to 80 million monthly active users globally – a significant increase compared to the 64 million recorded in 2022. This growth has positioned Tubi as the second-largest free streaming platform after YouTube, although it lags far behind with YouTube hosting approximately 2.7 billion monthly active users.
Peacock Is Heaven for Fans of Comedy
On July 15, 2020, Peacock, a streaming service owned by NBCUniversal, debuted. This platform draws content from NBC’s extensive television library, making it one of the top choices for viewers seeking comforting shows, gripping dramas, and reality TV entertainment. Peacock boasts an impressive collection of comedic series, with popular titles like The Office and Parks and Recreation, as well as original hits such as Poker Face and Bel-Air. For fans of reality TV, there’s the hit show The Traitors, along with drama from The Real Housewives and Love Island USA.
Home of the Best TV Entertainment
Peacock has experienced significant expansion as reported by Recreation Crush. By Q2 of 2024, the platform boasted 33 million subscribers, marking a 38% rise over the same quarter in the preceding year. However, it’s worth mentioning that there was a drop of one million subscribers between Q1 and Q2. Moreover, the report indicated that Peacock raked in around $2.1 billion in revenue during the first half of 2024.
Though trailing behind other giants, Peacock has carved out a cozy spot in the cutthroat streaming market with its unique TV content. This includes an extensive library boasting over 80,000 hours of on-demand content and more than 50 live channels. One of its most-watched shows is The Office, which routinely dominates the streaming rankings.
AMC+ Is Bundled With Other Brands
On October 1, 2020, AMC Networks introduced AMC+, a platform that provides a carefully chosen assortment of original series, films, and exclusive content. One of the advantages of AMC+ lies in its specialized content from other brands, such as BBC America, IFC, Sundance TV, Shudder, Sundance Now, Acorn TV, and HIDIVE. For instance, Shudder stands out as a great destination for horror enthusiasts, with original productions complementing its existing library.
The content available on AMC+ has received both critical praise and audience appreciation. Notably, the Walking Dead series franchise is one of their most-watched programs. Other popular titles gracing their platform are Mad Men, Better Call Saul, Gangs of London, Killing Eve, and Dark Winds.
The Leader in Curated Content
2024 saw AMC Networks boasting a total of 11.5 million streaming subscribers across its multiple platforms, leading to a Q1 profit of $45.8 million (as reported by Variety). Yet, the streaming service has experienced mixed success in this domain. Compared to the previous year, there was a 14% drop in domestic revenue, along with decreases in ad sales (by 13%), distribution sales (15%), subscription sales (7%), affiliate revenue (4%) and content licensing (a significant 40%). Despite a 3% increase in streaming revenues compared to the same quarter last year, this suggests that AMC+ has faced challenges competing in the highly competitive streaming market.
By employing ad-based subscriptions, tailoring content for specific audiences, and continuously seeking ways to improve user satisfaction, the streaming platform remains vibrant and full of potential. The Walking Dead series, particularly The Walking Dead: Daryl Dixon (631,000 viewers), has proven to be a cornerstone, even setting a record as AMC+’s most-watched series debut, surpassing The Walking Dead: Dead City. This show is expected to become AMC+’s biggest hit with its second season slated for premiere on September 29, 2024.
List of Notable Streaming Services:
- Acorn TV
- Amazon Freevee
- Amazon Prime Video
- AMC+
- Apple TV+
- Britbox
- Crackle
- Crunchyroll
- Disney+
- Fandor
- Fubo
- HIDIVE
- Hoopla
- Hulu
- IFC Films Unlimited
- KOCOWA+
- KweliTV
- Max
- Mubi
- Paramount+
- Peacock
- Philo
- Shudder
- Starz
- Tubi
- The Criterion Channel
- The Roku Channel
| Streaming Service | Subscriber Numbers |
|---|---|
| Netflix | 277.65 million paid subscribers |
| Prime Video | 200 million paid subscribers |
| Disney+ | 157.8 million paid subscribers |
| Max | Nearly 100 million paid subscribers |
| Paramount+ | 71.2 million paid subscribers |
| Hulu | 50.2 million paid subscribers |
| Apple TV+ | 25 million paid subscribers |
| Tubi | 80 million monthly users |
| Peacock | 33 million paid subscribers |
| AMC Networks | 11.5 million paid subscribers |
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2024-08-17 20:03