U.S. SVOD Subs Grew 24 Percent in Q1

Total subscriptions to premium SVOD platforms in the U.S. rose by 24 percent year-on-year in Q1, and were 6 percent higher than the fourth quarter of 2020, according to data from analytics firm ANTENNA.

The company, which provides intelligence on subscription metrics, noted the extent to which the landscape has transformed with a raft of new entrants in the last two years.

Netflix had a 50 percent share of subs two years ago; now it’s 31 percent. Similarly, Hulu’s share has fallen from 28 percent to 20 percent. Disney+ has about a 17 percent share of premium SVOD subs as of Q1, followed by HBO Max at 11 percent. Paramount+, Starz, Showtime, Discovery+, Peacock and Apple TV+ round out the market.

Disney+, Discovery+, Peacock, and Apple TV+ account for 22 percent of all subscriptions.

ANTENNA also explored churn rates, noting that Netflix’s is the lowest at 2.4 percent, with Hulu at 4.1 percent. For all other players, the average churn rate is 7 percent.