Prime Video Leads U.S. SVOD Market in 2024

Prime Video closed out 2024 as the top streaming service in the U.S., surpassing Netflix with a commanding 22% share of the overall market.

Hulu, Disney+, and Max collectively captured 36% of streaming audiences, while Paramount+ and Apple TV+ remained below the 10% threshold, recording 9% and 7% shares, respectively. Platforms categorized as “Other” experienced slight growth, but Peacock contributed just 1% to the market.

Netflix and Prime Video maintained dominance throughout 2024. Both platforms held over 20% of the market consistently throughout the year. Hulu’s consistent growth made it a strong competitor to Max for third place. However, Disney+ faced challenges in gaining viewers. Smaller platforms in the “Other” category gained traction, signaling a growing interest in alternatives to major services.

Prime Video’s robust content strategy has reinforced its leadership position, though Netflix continues to try to narrow the gap. Prime Video offers a diverse library of content for its viewers, including exclusive series and sports. These features played a pivotal role in securing its spot on the leaderboard. In comparison, Netflix focuses on high-profile original content while delivering globally to draw a larger audience. 

Platforms like Max and Hulu lean into their brand partnerships and strong catalogs to remain competitive and relevant. Hulu, specifically, has benefited from partnerships with Disney+ and ESPN+, which broadened its appeal to a more diverse audience.

Despite its strong brand recognition, Disney+ struggled to expand its market share in 2024. Analysts attribute this to a narrow content library that targets family-oriented and franchise-based programming. These factors may limit the platform’s appeal to a more diverse streaming audience.

All of these contributors set the stage for heightened competition going into 2025. As mid-tier and niche services continue to gain popularity, platforms are recognizing the importance of providing viewers with unique features and content.

The findings in this article are based on data from JustWatch, tracking U.S. market shares from Oct. 1 to Dec. 31, 2024.