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Amazon Prime Video - statistics & facts

Ever since Netflix expanded its operations to streaming media in 2007, video-on-demand (VOD) has become a phenomenon. Along with Netflix, companies like Amazon and Hulu have created a new market that is changing the way people view movies, TV shows, and video content in general. As of 2021, Amazon’s on-demand service, Amazon Prime Video, was the second most searched video streaming service worldwide, after Netflix. What is more? It occupies the second position in the growing subscription video-on-demand industry, and although more and more VOD services are entering the market such as Disney+, HBO Max, and Paramount+, the number of Prime Video subscriptions is projected to rise.

Amazon enhances video content

As the market expands and demand increases, companies have begun to produce their own content. According to U.S. adults, Amazon Prime Video had the second-best selection of original content as of early-2022, ahead of Hulu and HBO Max. In its attempt to compete with Netflix, Amazon spends hundreds of millions of dollars on production and marketing expenses for its original series. In 2021, the company’s expenditure on original programming was estimated at 500 million U.S. dollars. Furthermore, the highly anticipated TV series “The Lord of the Rings” is estimated to be the largest TV show ever made, with costs of around 465 million U.S. dollars only for the first season.

In addition to its original programming, Amazon has also continuously increased its selection of TV shows and movies. Movies are the most common content type available on Amazon Prime Video. In the United Kingdom for example, the program included over 7,400 movies as of March 2022, which is an 85 percent share of the whole content provided by the service. Amazon’s library will further increase shortly. In March 2022, the company announced to have closed the merger with MGM Studios and with this, it has access to MGM’s collection of over 4,000 movies and 17,000 TV show.

Prime Video subscribers

Amazon is uniquely positioned within the VOD industry, given that millions of consumers already use the company’s other services for everything from shopping to cloud computing. Around 200 million people subscribed to Amazon Prime worldwide as of 2020. Prime Video is expected to amass over 240 million global subscribers by 2026. As expected, younger demographics seem to be the most frequent viewers of Amazon’s video content. Around 56 percent of people from the United States aged 18 to 34 years stated that they currently subscribe to the on-demand service. And even over two-thirds of 35 to 44-year-olds indicated having an Amazon Prime subscription.

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