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Which Streaming Service is The Most Popular?

The trend of streaming services is here to stay and why should it not? Streaming not only provides us with excellent on-demand and live content but also offers complete control of choice and flexibility to the users.

In the recent past, many cable media networks have started introducing their own streaming platforms to join the ongoing streaming war. Both audio and video streaming platforms have become a multimillion industry over the last few years and that is because of the convenience and ease they bring forth to the customers.

However, one of the main contributors to the immense success of streaming services is the unexpected emergence of the coronavirus pandemic. The year 2022 has seen such an amazing upward trend of streaming subscriptions that it solidified the now unshakeable marks of streaming.

Furthermore, streaming allows users to save good amounts of money annually, as well. With a good internet connection, an internet-connected display device, and a streaming subscription, you can enjoy unlimited licensed and original content while having full control of your entertainment quotient.

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More than 200 streaming services are working in the United States at this point, however, the major platforms are just a handful. Out of these handful major streaming platforms, which one is the most popular streaming service? We will be following the said question, in this article.

WHO IS RULING OVER STREAMING?

Source: retailmenot.com

Streaming started with Netflix and unlike companies that lose their vision in the way, Netflix has been curating new ways and strategies to engage its client base and therefore, has been capitalizing on its position as the primary and first brand in online video streaming. The company has reached more than 190 countries and subsequently has a far more subscription base than any of its competitors.

Amazon Prime Video is the second most popular streaming platform with almost 150 million subscribers. Its huge growth trend is also dependent on the popularity of Amazon Prime which offers complimentary access to Prime Video.

The same goes for audio streaming services – Spotify has gained immense popularity over the years and is twice as big as its closest competitor i.e. Apple Music. This might be on account of the fact that Spotify is supported by both iOS and Android.

The following table will allow you to understand the popularity statistics in a better way:

Sr # Platform Format Subscribers

(as of fourth quarter of 2022)

1 Netflix Video 203.7 million
2 Amazon Prime Video Video 150.0 million
3 Spotify Audio 144.0 million
4 Tencent Video Video 120.0 million
5 iQIYI Video 119.0 million
6 Disney Plus Video 94.9 million
7 Youku Video 90.0 million
8 Apple Music Audio 68.0 million
9 Amazon Prime Music Audio 55.0 million
10 Tencent Music (Group) Audio 51.7 million
11 Viu Video 41.4 million
12 Alt Balaji Video 40 million
13 Hulu Video 38.8 million
14 Eros Now Video 36.2 million
15 Sirius XM Video 34.4 million
16 YouTube Premium Audio/Video 30 million
17 Disney Plus Hotstar Video 18.5 million
18 Paramount Plus Video 17.9 million
19 HBO Max Video 17.2 million
20 Starz Video 13.7 million

 

An amazing sight here is that a huge computed number of subscriptions are for streaming platforms based in Asia. Baidu’s iQIYI and China’s Tencent Video have both surpassed the benchmark of 100 million paid subscriptions and even Alibaba’s Youku stands high at 90 million.

WHICH STREAMING SERVICE IS SHOWING THE MOST GROWTH?

Source: digitaltrends.com

The one streaming service that has been showing massive levels of growth since its launch is Disney Plus. Despite the fact that it was launched just in the last quarter of 2019, Disney Plus has acquired more than 94 million subscriptions due to its high-quality content. This level of appreciation in terms of client base was not expected till 2024 even.

Here are the growth percentages of major streaming services:

Sr # Platform Format Growth %age as of 2019
1 Disney Plus Video No data
2 Apple TV Plus Video No data
3 Eros Now Video 92.6 percent
4 Youku Video 9.6 percent
5 Amazon Prime Music Audio 71.9 percent
6 Tencent Music (Group) Audio 66.8 percent
7 New York Times Video 60.5 percent
8 Disney Plus Hotstar Video 516.7 percent
9 ESPN Plus Video 475.0 percent
10 Spotify Audio 44.0 percent
11 Hulu Video 38.6 percent
12 Viu Video 38.0 percent
13 Netflix Video 34.4 percent
14 Tencent Video Video 27.7 percent
15 Starz Video 211.4 percent
16 iQIYI Video 19.0 percent
17 Sirius XM Audio 17.4 percent
18 Apple Music Audio 13.3 percent
19 Paramount Plus Video 123.8 percent
20 HBO Max Video 115.0 percent

The above tables show the immense growth and success rates of streaming platforms which make us believe even more firmly that streaming is the future of entertainment. Furthermore, international growth also shows that the entire world is coming together in this upward trend.

SUMMING UP

While your reason to turn to streaming services can range from saving money to succumbing to peer pressure, it is important to recognize that streaming companies are going over and above to offer the best content in the most convenient manner to the customers.

The coronavirus pandemic and the subsequent global quarantine, no doubt, has accelerated the growth of streaming platforms but it does not mean that the growth was not expected or out of ordinary.

The ease, user flexibility, and quality content offered by streaming services is the reason that it has shaped the entire course of entertainment for users and producers. Netflix, crowned as the pioneer of video streaming, has been leading the streaming industry since ever and due to its unique set of policies, it will be the industry leader for the foreseeable future.

As far as music streaming is concerned, Spotify has introduced new realms of audio entertainment for users with its lowest rates and high-quality audio content.