Netflix lost 31% of its market share in the past year

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Netflix lost 31 percent of its market share in the past year despite adding more than 36 million new users as competitors pick up steam

  • Despite adding more than 36 million new users, Netflix’s US market share has fallen from 29 percent to 20 percent, a 31 percent decline since 2020.
  • Amazon Prime Video is in a comfortable second place with 16 percent of the market
  • Hulu barely took third place with 13 percent, while HBO Max is closely behind the company with 12 percent
  • Disney + rounds out the top five streaming services in fifth place with 11 percent
  • The remaining 28 percent of the market is made up of services such as Apple TV +, Starz, Paramount +, and others

Netflix lost 31 percent of its market share in the last year, despite adding more than 36 million new users to the platform as the company’s rivals pick up steam.

The company’s US market share has fallen from 29 percent to 20 percent, which is a 31 percent decline since 2020.

The decline came at a time when streaming content was gaining in popularity, largely as a result of the coronavirus pandemic that kept millions of Americans at home for most of last year.

Netflix lost 31 percent of its market share in the past year, despite adding more than 36 million new subscribers

Netflix lost 31 percent of its market share in the past year, despite adding more than 36 million new subscribers

The decline occurred at a time when streaming content was gaining in popularity, largely due to the coronavirus pandemic that left millions of Americans at home for most of last year to watch shows like Bridgerton (image of the show pictured)

The decline occurred at a time when streaming content was gaining in popularity, largely due to the coronavirus pandemic that left millions of Americans at home for most of last year to watch shows like Bridgerton (image of the show pictured)

The decline occurred at a time when streaming content was gaining in popularity, largely due to the coronavirus pandemic that left millions of Americans at home for most of last year to watch shows like Bridgerton (image of the show pictured)

Data from Ampere analysis, shows that while Netflix has retained its No. 1 spot, other streaming services are not far behind.

Amazon Prime Video is in a comfortable second place with 16 percent of the market.

Hulu barely took third place with 13 percent, while HBO Max is closely behind the company with 12 percent.

Disney + rounds out the top five streaming services in fifth place with 11 percent.

The remaining 28 percent of the market is made up of services such as Apple TV +, Starz, Paramount +, among others.

And while Disney + is in fifth place, researchers predict the company will overtake Netflix globally in the next three years.

However, Netflix (a scene from The Queen's Gambit in the picture) has proven to last a long time with its dedicated customers and could maintain its top spot if consumers don't keep their subscriptions to other streaming services.

However, Netflix (a scene from The Queen's Gambit in the picture) has proven to last a long time with its dedicated customers and could maintain its top spot if consumers don't keep their subscriptions to other streaming services.

However, Netflix (a scene from The Queen’s Gambit in the picture) has proven to last a long time with its dedicated customers and could maintain its top spot if consumers don’t keep their subscriptions to other streaming services.

Trending data shows that Disney + could catch up with Hulu and HBO Max to secure third place by the end of this year.

From there, researchers believe that if you combine Disney’s streaming companies, including ESPN +, Disney + and Hulu, the company will be throwing Netflix off the ground by 2024.

However, Netflix has proven a longevity with its dedicated customers and could maintain its top spot if consumers don’t keep their subscriptions to other streaming services.

Disney + also doubled its content budget to $ 15 billion in December. The company aims to reach 260 million subscribers by 2024.

Disney + passed 100 million global subscribers within 16 months of launch, a feat that took Netflix a decade to achieve.

Netflix currently has 203.7 million subscribers.

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