While Netflix still holds the majority of market share in the SVOD realm, the streamer has been steadily losing portions of its market share to competitors. The year 2020 saw the entrance of newcomers Peacock and HBO Max which led to Netflix seeing a big chunk of its subscribers slip away. But Netflix isn’t the only platform to see its hold slipping – most streaming services saw a decline in market share every month this year so far.
Data from JustWatch shows that Peacock and Disney+ were the only streaming services to gain market share or remain the same through Q1, while all of the others decreased. In March, Disney+ pulled a big move and has taken on Hulu as the third streaming service with the most market share.
According to the data from JustWatch, Netflix is holding its spot as the top SVOD service with 31% of the SVOD market, with Amazon Prime Video coming in second at 21% and Hulu and Disney+ tied for third at 13%.
Disney+ and Hulu’s numbers both keep fluctuating, so these rankings could change, and likely will. But for now, Disney+ has secured its spot as a bronze medalist in the streaming service competition.
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