Over the last quarter, Paramount+ and Apple TV+ are among the streaming platforms to increase their presence in the grans streaming world. The two companies increased their market share for all streaming platforms in the United States. However, the two are still well behind other platforms like Amazon Prime Video, Netflix and Max, which was formerly HBO Max.
According to Just Watch, Paramount+ and Apple TV+ both increased their market share by 1%. While not a sizeable growth at first glance, the trend continues to be in a positive direction. Paramount+ and Apple TV+ rank sixth and seventh, respectively, in the market share for streaming platforms. However, the two gained some ground on Max, Disney+ and Hulu. Max and Hulu retained their same market share, while Disney+ lost some of its share.
Overall, the streaming market has been fairly stagnant in its general growth. Platforms are finding new ways to increase their market shares. For example, Netflix, which cracked down on password sharing, increased its price. As a result, its share grew by 1% in the last quarter, just like Paramount+ and Apple TV+.
Apple TV+ has focused on original content, including the recent Messi Meets America documentary. However, Paramount+ jumped Apple TV+ in terms of market share this year.
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How Apple TV+ and Paramount+ stack up in the market share of streaming
Regardless, both remain considerably below their rivals in the market for streaming services. Based on trends in 2023, those two will keep closing on other services. Apple and Paramount+ must find a way to set themselves apart. With a second Lionel Messi documentary on the horizon, Apple may see the Messi frenzy as a way to keep viewers coming to the service.
Here is the current gap in market share that CBS and Apple’s platforms are looking to overcome.
Market share through September 2023
- Amazon Prime Video (22%)
- Netflix (21%)
- Max (15%)
- Disney+ (12%)
- Hulu (11%)
- Paramount+ (8%)
- Apple TV+ (7%)
- Other services (4%)
PHOTO: IMAGO / NurPhoto
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