Apple TV+ has certainly grown a lot since its introduction in 2019, but the platform still lags behind major competitors like Netflix and Amazon Prime Video. JustWatch has now released the market share figures for streaming platforms in the US during the third quarter of 2023, so we can take a look at how Apple TV+’s growth compares with other platforms.
Streaming market in the US
By looking at the numbers, the ranking remained pretty much the same as before, but there was a slight positive variation for most of the streaming platforms. Amazon Prime Video remains in first place with 22% of the market share (1% more than last quarter), while Netflix follows close behind with 21%.
Paramount+ and Apple TV+ also grew by 1% each, while Hulu and Warner’s Max retained the same market share as the previous quarter. Disney+ was the only major streaming platform to lose 1% of its market share in the quarter.
You can take a look at the full ranking provided by JustWatch below:
- Amazon Prime Video: 22% (+1%)
- Netflix: 21% (+1%)
- Max: 15% (same as before)
- Disney+: 12% (-1%)
- Hulu: 11% (same as before)
- Paramount +: 8% (+1%)
- Apple TV+: 7% (+1%)
- Others: 4% (-3%)
Apple TV+ versus the others
Considering that Apple TV+ was introduced in late 2019 with a small catalog of original movies and TV shows, it’s surprising to see that Apple has managed to expand the platform fairly quickly. However, the streaming market seems stagnant overall, as there are multiple options available to customers, some of them extremely consolidated – such as Netflix.
For instance, Apple TV+ reached 6% market share in the US during the second quarter of 2022, and it took more than a year for it to grow 1% more. Meanwhile, its competitor Paramount+ had only 4% of the market share in the US in the same period last year, and now has more subscribers than Apple TV+.
Although Netflix has lost a significant number of subscribers since it started cracking down on password sharing and raising the price of its plans, it’s still one of the most popular streaming platforms in the world, probably due to its huge catalog. Apple takes a different approach, with a smaller catalog but with award-winning productions.
Yet Apple TV+ has been investing heavily in the production of original content. The company recently signed a deal with soccer star Lionel Messi and has just released a new documentary about him on the platform. Perhaps this will lead to Apple TV+ gaining a few more new subscribers soon, and we’ll find out with the next quarter’s figures.
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