Yes, Netflix is the # 1 streaming platform, but that’s changing fast thanks to this new player
With over 70 million subscribers in the United States and over 182 million subscribers worldwide, it’s hard to say that Netflix
But Netflix isn’t the only streaming operation to recognize the giant opportunity at hand. In the past 12 months alone, three other major competitors have caused a stir in the streaming scene as people have been forced to consume their entertainment indoors: HBO Max, Disney + and Peacock. And one of those services is gaining traction, to the point that it’s reasonable to theorize that Netflix won’t be the best streaming platform in just a year.
The new service that could disrupt everything? HBO Max.
This theory is based on a recent report by Reelgood, a service that allows users to keep track of where movies are played on the various streaming platforms available. For the report, Reelgood assessed the activity of its 2 million users and determined SVoD’s top five platforms for the third quarter of 2020. Based on Reelgood’s user feed share, the service came up with a Pretty shocking graph that shows how the saturated streaming market has affected Netflix’s once insurmountable dominance:
As you can see, Netflix had a 32% streaming share among Reelgood users in the second quarter of 2020. But that share has shrunk to 7% in just three months, largely thanks to HBO Max’s 6% gain. . By shifting its operations to a more streaming-friendly layout that mimics Netflix, Hulu, and Amazon Prime
This remains in line with a Reelgood report since early 2020. HBO Max got off to a slow start after its initial launch, but then quickly gained ground among streaming competitors. And this new report shows how much more successful HBO has been than Disney, whose service did not increase its share of streaming numbers between the second and third quarters of 2020.
This is probably because of the HBO Max TV show lineup. Raised by Wolves, Lovecraft Country, The Wish, The Outdoors, Love Life– these are all shows that have gone viral thanks to big stars and interesting locals. HBO Max has taken the less is more approach, while Netflix continues to produce several new shows and movies each week. And because HBO made its layout more user-friendly and its library much easier to access, people got invested in the Max platform.
It should be noted that Amazon has made progress as well. Amazon Prime has gained a 1% share of feeds, which is likely due to its incredibly rich library of options. As Netflix continues to shrink its library and focus on original content, Amazon Prime has continued to add more and more options. While Netflix’s movie lineup has shrunk by 40% over the past five years, to the point that the service currently has fewer than 4,000 options available, Amazon Prime currently features around 13,000 movies.
As all of these platforms appear to have different approaches and strategies for capturing the streaming market, it will be interesting to see how these streaming stocks continue to evolve through 2020. There are only two and a half months left in the game. year, and Reelgood’s fourth quarter report could show Netflix is on its way to becoming the indisputable No.1 streaming platform.