Netflix Lost More Than 30% Market Share to Competitors in 2020

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A new report from Ampere shows that Netflix lost 31% of its U.S. market share last year. While the streamer still remains a powerhouse, 2020 saw the entrance of newcomers Peacock and HBO Max which led to Netflix seeing a big chunk of its subscribers slip away. The Wrap reports that Netflix holds 20% of the U.S. streaming market, down from its previous 29% as more competitors enter the streaming ecosystem.

But not to fear – Netflix is still in a great position financially as well as in terms of subscriber count. It’s 20% is still high above the next competitor in line, Amazon Prime Video has 16% market share in the U.S. The third contender is Hulu (13%), HBO Max (12%) and Disney+ (11%). Peacock and Apple TV+ both hold 5%, while ESPN+ (4%). CBS Access’ rebranded Paramount+ already has 3%, the same as Starz, while Sling TV, YouTube TV, and BritBox each hald only 1% market share.

Netflix hit a milestone of surpassing 200 million subscribers at the end of 2020. While Netflix acknowledged increasing competition from Disney+, HBO Max, Discovery, and others, the company came prepared. “This is, in part, why we have been moving so quickly to grow and further strengthen our original content library across a wide range of genres and nations,” the letter to shareholders says.

“Netflix ended 2020 on a high note, adding over 36 million subscribers and passing 200 million subscribers,” said eMarketer analyst Eric Haggstrom. “Despite increasing competition from Disney and others, Netflix had its strongest year yet and will look to grow further in 2021, with a strong content release slate already planned. So far, Netflix has been a clear winner of the streaming wars.”

Netflix continues to churn out quality content at a fast pace which attracts new subscribers and keeps current viewers coming back for more. A recent survey showed that 29% of TV viewers think Netflix has better original content than other streamers.

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