A report from earlier this year revealed that Apple TV+ had been growing slowly, just reaching 5% of the market share of streaming platforms in the United States. Three months later, Apple TV+ finally accounts for 6% of the US streaming market – while Netflix continues to lose subscribers.
Right now, this is the market share situation for streaming platforms in the United States:
Things aren’t going well for Netflix. Earlier this year, the company raised prices on all its plans around the world, which certainly upset subscribers.
The streaming wars continue to heat up, with Netflix losing -2% market share in Q2. Rivals such as Apple TV+, Disney+, and HBO Max capitalized on the losses of the market leader, and each added +1% in Q2. Netflix now only holds a 1% margin over Prime Video, and there is just a 5% margin between HBO Max and 2nd place.
After confirming the loss of more than 200,000 subscribers in Q1 2022, the company blamed users who share their accounts with friends and families. Since then, Netflix has been exploring new ways to retain its subscribers, which includes anti-password sharing measures and a new ad-supported plan.
As for Apple TV+, the platform has been benefiting not only from its affordable price, but also from its critically acclaimed content. The Apple TV+ original movie CODA was the first streaming content to win the Academy Award for Best Picture. Also this year, the Apple TV+ comedy show Ted Lasso won multiple Critics Choice awards.
It seems that Netflix will only lose more subscribers from now on, while Apple TV+ still has plenty of room to grow.
