Streaming services are a major way users consume entertainment these days, and it’s only growing. When streaming services first appeared, it seemed they weren’t going to go very far. But as hardware and software technology across the board began to change, so did the way users consume content.
Streaming services like Netflix and Hulu have been leading the charge for years, but other streaming services have come into being since then. Now you have options such as:
That list is just a short one; there are many more options out there, some of them free with ads, and others are subscription-based.
While the streaming services industry has grown, the major players are still leading the pack. But some newcomers are challenging their dominant position, and here’s how that looked in 2020.
Streaming Services Market Shares in 2020
In the last quarter of 2020, Disney+ closed in on Hulu and nearly overtook the third-biggest streaming service in the US. Recently launched Peacock is already twice as big as Apple TV+. Market leader Netflix maintained its dominance over Prime Video by a margin of 30%.
Market Share Development in 2020
The growth of other streaming services impinged on Netflix’s market share. Newcomers Disney+ and Peacock grew by 5% and 6%, respectively. HBO Max finished the year with a 9% expansion throughout 2020.
You can see that the big three are still on top, but as the industry grows, their market share will become smaller. We’ll see what the future holds.
Data provided by Just Watch an international streaming guide that helps over 20 million users per month to find something great to watch on Netflix, Prime Video, Disney+, etc. across 46 countries.