Netflix lost 31% of market share in the last year as streaming rivals gained ground.
After a year in which streaming became even more important to millions of Americans, thanks to the coronavirus pandemic, Netflix still dominates the streaming universe in the U.S. But new data shared by Ampere Analysis with TheWrap shows that while Netflix holds 20% of the U.S. streaming market, its dominance over the rest of the streaming landscape has shrunk from 29% — a drop of nearly one third– as more services enter the market.
In January, the company said it had gained 36.58 million new accounts globally in 2020 and in the US and Canadian markets it had reached 73.94 million. However, the drop in market share did not only affect Netflix: Amazon Prime Video went from 21% to 16%, Hulu from 16% to 13%, and Disney+ dropped from 12% to 11%. The most significant leap forward was made by HBO Max, which went from 3% to 12% in just one year, while Peacock debuted with 5%. Apple TV+, Paramount+ and ESPN+ were up just 1%.
Amazon Prime Video data cannot be completely accurate, however, because the streaming service is included in the free shipping offer for orders placed on the site, making it impossible to know how many people have decided to pay for a subscription solely to access the platform’s video content.
The Walt Disney Company reported 94 million subscribers worldwide at the end of 2020, but the not particularly significant percentage in the American market is linked to the fact that only 40 million of the users reside in the United States, a situation that leads HBO Max, with its 41 million, to surpass Disney+.
The increasing competition for Netflix in the coming months could, according to analysis, lead to further falls in the percentage of subscribers to the service.