The streaming market has gained several new players in recent years, and this has been affecting consolidated platforms like Netflix and Amazon Prime Video. A new research from JustWatch seen by 9to5Mac shows that Apple TV+ has now surpassed 6% global market share while its competitors continue to lose subscribers.
Apple TV+ continues to grow
The research considers data from January 2021 through August 2022. According to JustWatch, the last 1.5 years have been great for Apple TV+ compared to other big players. For instance, Apple’s streaming platform grew 29% during this period, while Amazon Prime Video and Netflix decreased by 19% and 14%, respectively.
Apple TV+ now has 6.2% of the global streaming platform market share. It’s getting closer than ever to HBO Max, with 7%. Disney+ comes in third place with 18.2% of the market share. Amazon Prime Video, which comes in second place, now has 24.3% market share. As for Netflix, which remains the leading platform in the segment, it now has a 27.3% share.
The numbers make it clear that the traditional streaming platforms have been losing ground to new platforms introduced in the last three years. Back in March, JustWatch reported that the global market share of the Apple TV+ had reached 5.6%. Interestingly, HBO Max continues with the same 7% share since then.
Of course, there’s more than one reason why the numbers are like this. When it comes to Apple TV+, the platform has been gaining traction as Apple’s original movies and shows have already won multiple awards. Most recently, multiple Apple TV+ shows were nominated at the 2022 Emmy Awards.
Netflix and Disney+ to introduce ad-based tiers
At the same time, Netflix has been struggling to retain its current subscribers with recent price increases. While a monthly Apple TV+ subscription costs $4.99 per month, a monthly Netflix subscription costs as much as $19.99. Netflix recently announced new measures to avoid losing more money, which includes a new ad-supported plan and charging users for password sharing.
Disney+ has also decided to follow suit with the announcement of a new ad-supported plan expected to be introduced later this year. For now, there are no signs that Apple will change its Apple TV+ strategy when it comes to pricing or advertisements.
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