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Netflix headquarters in Beverly Hills, CA (Shutterstock image)


EMARKETER: NETFLIX ACCOUNTS FOR 20% OF ALL U.S. STREAMING REVENUE AS MARKET
SECTOR LOOKS TO EXCEED PAY-TV IN 2025

Erik Gruenwedel

April 11, 2024

 * 
 * 
 * 
 * 

Netflix revenue in the United States will top $14.5 billion in 2024, accounting
for about 20% of all domestic over-the-top video subscription streaming revenue,
according to new data from EMarketer. The tally exceeds the streamer’s closet
rival Disney, which tops $13.96 billion when combining the annual domestic
revenue of Disney+, Hulu and ESPN+.

Subscription streaming revenue is projected top pay-TV revenue for the first
time in 2025, when including online TV platforms such as YouTube TV, Sling TV,
and Hulu + Live TV, among others. Without online TV, streaming revenue won’t
exceed pay-TV revenue until 2026.

Between 2020 and 2024, the share of total video subscription revenue that went
to pay-TV decreased from 72.6% to 50.3%. Pay-TV prices have increased, but
cord-cutting has skyrocketed, causing that legacy pay-TV subscription revenue to
shrink between 6% and 7% per year.

Subscribe HERE to the FREE Media Play News Daily Newsletter!

Meanwhile, the “Digital Video Forecast & Trends Q1 2024” report found that
Netflix’s domestic audience is saturated, with the service reaching more than
75% of all U.S. streamers this year. To generate incremental revenue from
subscribers, Netflix has restricted password-sharing and continues to raise
subscription fees. Netflix also adopted ad-supported SVOD service after avoiding
it for years.

While Netflix’s subscription revenue continues to grow, the rate is not as fast
as the rest of the streaming industry. Between 2020 and 2025, Netflix’s share of
total domestic streaming subscription revenue is projected to decline from 32.4%
to 21.3%. This has happened as YouTube ($10.13 billion) and Paramount+ ($3.06
billion) expanded their share of subscription revenue, and Peacock and Apple TV+
found larger audiences.

EMarketer’s report does not include Prime Video, since Amazon does not separate
the streaming platform’s revenue from the Prime membership revenue. Despite
this, the report suggests Prime Video plays an outsized role in the U.S.
streaming market. Indeed, the forecast contends that U.S. adults will watch
Prime Video for an average of 12 minutes per day in 2024, which is almost 33% of
the time people will spend watching Netflix.

In January, Amazon turned advertising on by default for Prime Video users. To
avoid ads, Prime Video subs can pay an additional $3 per month. This tactic
could generate $1.8 billion of subscription revenue for Prime Video this year,
according to Bank of America.

Earlier this year, Amazon acquired a stake in the bankrupt Diamond Sports, a
regional sports network company. This allowed Amazon to obtain the local
broadcasting rights for several professional sports teams.

“Pricing details haven’t been announced, but it’s feasible that Amazon could
increase its video subscription revenue by charging a monthly fee to access the
games of specific teams,” read the report.


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Search for: Search

www.mediaplaynews.com Open in urlscan Pro 66.39.178.168 Public Scan

Form analysis 3 forms found in the DOM

GET https://www.mediaplaynews.com/

POST https://www.mediaplaynews.com/wp-comments-post.php

GET https://www.mediaplaynews.com/

Text Content

www.mediaplaynews.com Open in urlscan Pro
66.39.178.168 Public Scan

Form analysis
3 forms found in the DOM