A new list from Parks Associates of the top 10 SVODs by subscribers shows leading SVODs maintained their grip atop the streaming service rankings over the past few years, while NBCUniversal’s Peacock cracked the top 5 for the first time in 2024. It comes as ad-supported plans are gaining adoption and Netflix separately announced reaching 70 million monthly active users on its SVOD tier with ads.
Per Parks Associates, Amazon Prime Video and Netflix retained their respective No.1 and No. 2 rankings from 2023. Disney-owned services Disney+ and Hulu swapped spots since last year, coming in at No. 3 and No. 4, respectively, for top SVOD by subscribers in 2024. Peacock made it to number five, outpacing Warner Bros. Discovery’s Max and Paramount Global's Paramount+.
In announcing the list, Parks Associates noted that while still not profitable, Peacock has seen success with exclusive rights to certain NFL games and the 2024 Summer Paris Olympics.
“While the service has increased prices, the Paris Olympics (July 26 to August 11) have circumvented any negative impact on subscriber growth” wrote Parks Associates regarding Peacock. During Q3 earnings, Comcast reported adding 3 million Peacock subscribers in the period for a base of 36 million. Other leading streamers have also released quarterly earnings, with only Disney yet to report. Disney earnings are scheduled for Thursday, November 14.
Here’s the full Top 10:
Not all SVODs publicly disclose subscriber counts and Parks Associates declined to share its service-specific breakdown of subscriber estimates.
“Tracking the changes at the top of the market over the past five years reveals the extent of rebranding and consolidation shaping this market,” said Jennifer Kent, VP of Research at Parks Associates, in a statement. “Showtime, which was in the top 10 back in 2020 and 2021, no longer exists as a standalone SVOD service and is now a premium add-on tier for Paramount+. We expect to see more premium content used to differentiate subscription tiers or create content bundles, giving consumers choice in how to build their packages.”
According to the firm’s data an estimated 88% of all U.S. households have a streaming service and 42% are now using ad-based services.
With fierce competition in streaming, StreamTV Insider asked Parks Associates about some of the main ways streamers can stand out to help attract and retain subscribers.
“Content availability, customer experience, tiered pricing, and perceived value remain important to consumers as they weigh which entertainment services to keep,” the firm told StreamTV Insider.
Per Parks Associates, as of Q3 2024, 59% of subscriptions across the leading SVOD services were to the basic tier with ads.
“Offering several business models at various price points for consumers to choose from is highly advantageous in the current market,” Parks Associates commented.
Growth in ad-supported streaming can also be seen by new disclosures from SVOD giant Netflix Tuesday, which since launching its plan with ads in late 2022 said it has now amassed 70 million monthly active ad-supported users (MAUs) globally, accounting for over 50% of new in countries where the ads plan is available.
Plans with ads don’t only help attract viewers with lower prices, but exclusive and live content making its way to streaming is also bringing more opportunity for advertisers and revenue. Alongside the MAU figure, Netflix said it has sold out of all ad inventory for its two exclusive live Christmas Day NFL games. Netflix is working to scale its ads business and starting with its WWE launch in January, the SVOD is tapping vendor VideoAmp in the U.S. to deliver cross-screen and live viewership measurement for advertisers, with VideoAmp leveraging its Snowflake clean room partnership to help ensure privacy.
In addition to pricing flexibility, Parks Associates shared other key factors streamers should focus to appeal to consumers.
“Additionally, a platform that is available across a range of devices, an easy-to-use user interface, and effective AI-based personalization contingent upon user behavior are also highly beneficial,” Parks Associates told StreamTV Insider. “Finally, fresh, high quality, original content along with diverse content libraries that capture a wide range of interests for all family members to enjoy is essential.”