The post-growth era
The explosive subscriber growth of the pandemic era is over. The market has matured, subscriber growth has slowed, and platforms are competing intensely for a relatively fixed pool of viewing hours.
Netflix holds its lead
Despite significant competitive pressure, Netflix remains the clear leader by subscriber count and by the breadth of its content library. Its password-sharing crackdown, which prompted predictions of subscriber exodus, instead drove net subscriber growth — people who had been watching for free were converted to paid accounts or lost access.
The ad-supported pivot
Almost every major streaming platform has now introduced an ad-supported tier priced below the premium subscription. These tiers are growing faster than premium. This represents a significant shift toward a hybrid model that more closely resembles traditional television.
Sports: the next battleground
Live sports are proving to be the content that drives subscription decisions in ways that scripted drama cannot. Apple TV+ streams Major League Baseball. Amazon Prime Video holds UK rights to Premier League football matches. Netflix has entered live sports with WWE, NFL games and tennis events.