Netflix’s Decline: New Streaming Apps are Gaining Market Share


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.


Netflix has seen its market share of MAUs among the top streaming apps decline since 1Q18 as the subscription video on demand (SVOD) space has grown more crowded. However, it still commands the single largest percentage of U.S. usage each month with 39 percent of market share in 1Q22.


Newer platforms are offering hefty competition though, with Disney+ growing its share of monthly active users at a rapid clip and ranking third in 1Q22 despite only launching in 4Q19. 


After Netflix, Hulu saw the highest usage with 18 percent, followed by Disney+ with 17 percent,  HBO Max at 10 percent, and Amazon Prime Video at 6 percent. HBO Max and Apple TV Plus continue to have the highest growth rate in the US adding +2% each, contributing to Netflix’s -2% loss. Other top players in the US market, such as Amazon Prime Video, Disney Plus, and Paramount+, have all actively gained +1% shares since January. 



After HBO Max, Disney+ saw the second largest share of new U.S. downloads among top streaming apps with 17 percent. These top two market leaders in adoption have both been bolstering their content offerings with tentpole movie releases along with a drumbeat of TV show premieres; HBO Max saw a surge in U.S. downloads during the second season of Euphoria. 


Although Netflix has had a considerable head start on HBO Max and Disney+, it still saw the third highest market share of adoption with 15 percent among U.S. first-time installs in 1Q22. 


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Chris Braly

I'm one opinionated, based geek. I try to steer this tiny ship and can often be heard monthly on the Comic Book Page Previews Spotlight podcast with several fellow "comic book nerds." Follow me on Twitter @ChrisBraly. My preferred adjectives are brilliant/beautiful.