SVOD service usage in the U.S. 2015-2020
According to the most recent data, 78 percent of consumers in the United States were using a subscription video on demand service in 2020, an increase of more than 25 percent in four years. It is no secret that one of the most popular platforms (and certainly the one with the most U.S. subscribers) is Netflix. The number of Netflix streaming subscribers in the United States passed the 60 million mark for the first time in early 2019.
To say Netflix has the monopoly on the U.S. streaming market would be an understatement, and with a wealth of original content appearing all the time, Netflix’s appeal is built to last. Data shows that Netflix has more than double the number of subscribers than Hulu and Amazon in the U.S., leaving services such as HBO Now, Showtime and CBS All Access trailing far behind.
To make matters even better for Netflix, its subscriber base is receptive to monthly cost increases, with the vast majority of surveyed subscribers saying that they would keep Netflix even if the price increased by five dollars per month. In fact, most consumers are happy to pay up to 20 dollars per month for any streaming service. However, the threat of new competitors could cause Netflix's subscriber base to dwindle if video consumers decide to go elsewhere. Upcoming services ranging from the long anticipated Disney+ to WarnerMedia's HBO Max will likely draw some customers away from Netflix by virtue of what they can offer, and as new services enter the market, they will likely reclaim their own content, leaving Netflix with less content to satisfy its subscribers.
Netflix in the U.S.
To say Netflix has the monopoly on the U.S. streaming market would be an understatement, and with a wealth of original content appearing all the time, Netflix’s appeal is built to last. Data shows that Netflix has more than double the number of subscribers than Hulu and Amazon in the U.S., leaving services such as HBO Now, Showtime and CBS All Access trailing far behind.
To make matters even better for Netflix, its subscriber base is receptive to monthly cost increases, with the vast majority of surveyed subscribers saying that they would keep Netflix even if the price increased by five dollars per month. In fact, most consumers are happy to pay up to 20 dollars per month for any streaming service. However, the threat of new competitors could cause Netflix's subscriber base to dwindle if video consumers decide to go elsewhere. Upcoming services ranging from the long anticipated Disney+ to WarnerMedia's HBO Max will likely draw some customers away from Netflix by virtue of what they can offer, and as new services enter the market, they will likely reclaim their own content, leaving Netflix with less content to satisfy its subscribers.
