A report from earlier this year revealed that Apple TV+ had been growing slowly, just reaching 5% of the market share of streaming platforms in the United States. Three months later, Apple TV+ finally accounts for 6% of the US streaming market – while Netflix continues to lose subscribers.
According to a new report from JustWatch seen by 9to5Mac, Q2 2022 results were quite positive for smaller streaming platforms like Paramount+, Apple TV+, Hulu (which is owned by Disney), and Disney+. While these platforms have grown in recent months, the same can’t be said for major players like Netflix and Amazon Prime Video.
Netflix lost 2% market share in the United States last quarter. While the platform remains the most popular, accounting for 21% of the market, it has been struggling to retain subscribers. Amazon Prime Video and HBO Max have gained more subscribers since January, but both platforms lost some subscribers last month.
Right now, this is the market share situation for streaming platforms in the United States:
- Netflix: 21%
- Amazon Prime Video: 20%
- HBO Max: 15%
- Disney+: 14%
- Hulu: 10%
- Apple TV+: 6%
- Paramount +: 4%
- Others: 10%
JustWatch notes that Amazon is now only 1% behind Netflix:
The streaming wars continue to heat up, with Netflix losing -2% market share in Q2. Rivals such as Apple TV+, Disney+, and HBO Max capitalized on the losses of the market leader, and each added +1% in Q2. Netflix now only holds a 1% margin over Prime Video, and there is just a 5% margin between HBO Max and 2nd place.
9to5Mac’s Take
Things aren’t going well for Netflix. Earlier this year, the company raised prices on all its plans around the world, which certainly upset subscribers.
While the Apple TV+ subscription costs $4.99 per month in the United States, Netflix charges $9.99 for its basic plan – which supports a single screen and no HD content. Those who want to share Netflix with more people and watch 4K content have to pay $19.99 per month. Netflix is also more expensive compared to other platforms like Amazon Prime Video and Disney+.
After confirming the loss of more than 200,000 subscribers in Q1 2022, the company blamed users who share their accounts with friends and families. Since then, Netflix has been exploring new ways to retain its subscribers, which includes anti-password sharing measures and a new ad-supported plan.
As for Apple TV+, the platform has been benefiting not only from its affordable price, but also from its critically acclaimed content. The Apple TV+ original movie CODA was the first streaming content to win the Academy Award for Best Picture. Also this year, the Apple TV+ comedy show Ted Lasso won multiple Critics Choice awards.
It seems that Netflix will only lose more subscribers from now on, while Apple TV+ still has plenty of room to grow.
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