Netflix’s Market Share Lead Continues to Shrink

As a true pioneer in the world of streaming, Netflix has remained a constant leader when it comes to streaming service market share. But what once was a wide margin has now narrowed to a mere 8% lead over its next biggest contender, Amazon Prime Video.

According to data from JustWatch, Netflix closed Q2 of 2021 with 28% market share in the US, with Prime Video following close behind at 20%. The fact that Prime Video is included in something as ubiquitous as an Amazon Prime membership for shipping has surely boosted the streaming services usage.

Although still a relative newcomer, Disney+ has morphed into a household staple with its family-friendly content and nostalgic back library. Disney+ holds 14% of the market share, just up from Hulu’s 13%. Despite offering Apple device consumers a free year trial, Apple TV+ has failed to find the sweet spot of making itself a desirable addition with just 3% market share, less than HBO Max and Peacock who hold 9% and 4% respectively.

According to the JustWatch data, Netflix’s margin fell significantly during the first half of this year, falling from over 30%. It seems to be making a slight recovery over the past couple of months, landing at its current 28%. Prime Video has also seen a slight decline. Disney+ and HBO Max were the only two streaming services to gain market share (+1%) through Q2, while Apple TV+ held a relatively steady (and low) plateau.