Entertainment

Paramount+ overtakes Apple TV+ in streaming wars

And Prime Video is absolutely crushing it. Who would have thought.

by
Kevin Raposo
April 29, 2023

Image: KnowTechie

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In Q1 of 2023, the streaming landscape saw some notable shifts and heated competition.

According to JustWatch data, Prime Video’s dominance in the streaming market remains unshaken, while Netflix retains a firm grip on second place.

Here’s a quick breakdown of the latest streaming platform rankings:

Prime Video remains the reigning champion, holding onto its position as the largest streaming platform in the US.
Paramount+ makes a surprising leap, overtaking Apple TV+ and cementing its place among the top contenders.
Disney+ and HBO Max are neck and neck for third place, with Disney+ facing a potential slide after losing subscribers in Q1.

Prime Video22%

Netflix21%

Disney+15%

HBO Max14%

Hulu11%

Paramount+7

Apple TV+6

However, the real story is Paramount+’s surge, which has left Apple TV+ in its wake after a strong earnings quarter.

Meanwhile, Disney+ is feeling the heat as it dropped the most subscribers since January. This decline threatens its position, potentially allowing HBO Max to snatch third place in the near future.

This image shows the market share of different streaming services in the United States from January to March 2023. Full Text: Market share development: January-March 2023 Streaming Charts 30% 20% 10% Source: JustWatch.com - Measured interest in SVOD services in the United States from 01/01/-03/31/23 on JustWatch. 0% Jan prime video Feb Mar NETFLIX Jan Feb Mar Jan Disney+ Feb Mar HBOmax Jan Feb Mar hulu Jan Feb Mar Paramount+ Jan Feb Mar JustWatch THE STREAMING GUIDE United States Jan tv+ Feb Mar Jan Other Feb Mar — Image: JustWatch

In summary:

Prime Video: #1 in the US streaming market
Netflix: A strong second
Disney+ vs. HBO Max: A tight race for third
Paramount+: Overtakes Apple TV+ and gains traction

Seeing how these platforms adapt to maintain or gain market share will be interesting as the streaming wars continue. However, all it takes is for one of them to increase their prices, as that’s always certain to throw a wrench in the gears.

With Paramount+ making waves and Disney+ faltering, the future of streaming is anything but predictable.

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